There is a thread on the Household finances board that should interest anyone who is at, near, or even far from retirement. My take on it is that there is a great deal of misunderstanding concerning the President's proposal. My understanding is that we won't "take charge" of our future, we are just giving up a defined benefit. We won't decide for ourselves how much and where to invest. That will still be decided for us. We will just be given a choice of 3 or 4 funds to put our money in. Ask yourself who will be in charge of those funds and if any accounting "mistakes" are likely to crop up. We will be shouldering all the risk without getting much to say about it. I would love to hear from someone who has a different understanding of the matter.