The use of 401ks as a retirement vehicle for the masses, is just another Wall Street scam to loot the public. They have hidden so many fees, they use so many tricks to make the 401k look better than it is, the managers get compensated based on asset amt., not performance, the kickbacks to company plan mgrs, the lack of oversight, the lack of an exit strategy in a severe downturn/crash, etc. 401ks are now required to list fees, but they are buried so deep in legalese, good luck finding them.
This country is run for and by banks, for their benefit first. The destruction of Glass-Steagall and the creation of 401ks produced a huge pool of money for Wall Street to speculate with.
Interestingly, when MacArthur was giving his input to the design of the new Japanese constitution after WW2, he insisted on the inclusion of trade unions. He knew they would counter balance the power of big industry. It was the military-industrial-complex of Japan that led it on the path of conquest.