zlacker

Most employees are bright enough to at least contribute as much to max out the company match. It's free money.

>>Manuel+(OP)
I'm skeptical. A quick search suggests that 41% of eligible employees don't contribute anything to a 401-K.

The main argument for defined benefit pensions is that while they never covered most employees, they did represent money that people got in retirement without doing anything and which "society" would otherwise have been on the hook for to some degree.

>>Manuel+(OP)
A younger me was not so bright. At the time I needed the few extra bucks and retirement seemed a lifetime away; I had all the time in the world to make up for it.

Years later I got a mortgage and learned what compound interest is.

I'd been underfunding for most of my career. You overestimate collective intelligence.