Employer sponsored 401(k) plans have been taking a beating lately. Not necessarily in performance, but in public perception. Concerns about high fees, investment choices, plan options and employee participation have dominated retirement plan discussions. But are 401(k) plans working? With $7.8 trillion dollars in so-called "defined contribution" (DC) retirement accounts and IRA rollovers, it's an important question to ask.
Let's take a reality check on five prevailing myths about 401(k)s: