Public Television’s “Frontline” is the latest media outlet set to attack 401(k) plans and IRAs. In a preview of “The “Retirement Gamble,” a program set to air April 23, 401(k) plans are characterized as a scam and a way for Wall Street to enrich itself at the expense of plan participants.
The only text accompanying the preview video states: “The Retirement Gamble raises troubling questions about how America’s financial institutions protect our retirement savings.” In one clip, John Bogle, formerly of Vanguard, opines that investors “put up 100% of the capital, take 100% of the risk and get 30% of the return.”
