>and frankly people are BUSY working and not adjusting their portfolios a lot - if ever.
>
>They probably sat down with the retirement person that comes into the office occasionally and set it up and just forgot about it.

And the part about "defined pensions" being better than betting your retirement on the market. Based on the above, that's why defined pensions should be the norm. People are busy with their full time jobs and life, they shouldn't have to double as their own financial advisors on a volatile market that the experts should be handling for them.

I'm not taking away ALL personal responsibility. Just saying that retirement is earned and should be treated as such. There should be no variability.