Want an answer? Just ask the right question.

One would think that an organization devoted to defending America’s unsustainable public employee pension system would have enough to do without relentlessly bashing the successful private sector defined contribution system. Then again, maybe changing the conversation is their best approach.

The National Institute on Retirement Security continued its war on 401(k) plans yesterday by releasing a survey that – shock and awe – found that most Americans are concerned that current economic conditions might affect their retirement security. I’m pretty sure that government pension plan managers share this same doubt as they struggle to maintain at least a minimal funding level in their plans due to dwindling tax revenue.

My favorite finding is that 84 percent of respondents agree that “all workers should have access to a pension plan so they can be independent and self-reliant in retirement.”  Only 84 percent?  Who could say no to such a deal? 

We applaud the efforts of our friends at the NIRS to promote defined benefit plans, but savaging defined contribution plans is counterproductive and just plain wrong on the facts.