**[CAF Note: I have the greatest respect for Mr. Kiplinger. However, how do we implement a new retirement scheme when existing schemes have been significantly abused by the leadership? IMO a new scheme will put more small business out of business to serve financing a system that does not have sufficient integrity to warrant new forms of back door taxation.]**
By Knight Kiplinger
There’s no longer any debate over whether working Americans are accumulating enough savings and employer contributions, supplemented by Social Security, to live comfortably in retirement. Indisputably, they are not, and the matter is getting critical.
As a result, the debate has shifted to whether today’s 401(k) and 403(b) plans should be reformed, or be replaced or supplemented with something entirely new, such as the proposed government-sponsored Guaranteed Retirement Accounts conceived by economist Teresa Ghilarducci, the USA Retirement Fund idea of Sen. Tom Harkin (D-Iowa) or something else.
