[algaeselect]

Having control of your own destiny (whether in a 401k or an equivalent handled by the government on your behalf) is much better. With a pension, you may have to stick with the same company, or the company could mismanage the pension and go backrupt and try to dump the pension on the federal government, which may not pay out at 100% (especially if too many companies try to discharge their pension obligations this way).

I actually think a government run program that taxes employees and puts it in the S&P 500 would be a better system. No need for these pension-runners to be earning fees.