I believe we’ve equally proven that defined contribution plans are fairly worthless compared to pensions, when 50% of retirees have no retirement savings and the median balance of these accounts is in the low five figures, no? Workers are simply not lucky enough (to have the financial means), nor financially savvy enough, to manage this themselves across a lifetime.

From my last link:

> The median value of 401(k)-style accounts was $30,000 and the median IRA or Keogh value was $30,820 — not statistically different.

> The median total amount employees contributed in 2020 to their own IRA or Keogh account was $2,514. The median amount they contributed to their 401(k)-style accounts ($3,599) and pension plans ($3,257) was slightly higher. Future research will examine employer contributions in combination with employee contributions.

Come on, based on available data this isn’t a functioning asset accumulation system for worker retirement, it’s theater to keep the hoax going. Outliers are going to trot out their six and seven figure account balances, but they are just that: outliers.