The 401k Fallout
"The recent financial collapse has devastated this retirement resource. Older workers are hardest hit, as their financial futures may now be at risk."
http://www.cbsnews.com/video/watch/?id=4955194n
"In USA, a 401(k) plan allows a worker to save for retirement and have the savings invested while deferring current income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or "deferred," into his or her 401(k) account. In participant-directed plans (the most common option), the employee can select from a number of investment options, usually an assortment of mutual funds that emphasize stocks, bonds, money market investments, or some mix of the above."
http://en.wikipedia.org/wiki/401(k)
This video talks about:
- the original intends of the 401k plan
- how the plan is failing the people
- hidden fees
- Influence of the finance lobby group
This sounds very similar to MPFA situation in HK. Or maybe they are one and the same.

