I was thinking about this after having read so much lately about Blackrock and the like that essentially have so much damn money they control they can steer countries.
I don't know if this applies to Blackrock specifically (like I said this is a shower thought not a researched document), but I do know that 401k/retirement funds make up a lot of dollars that some powerful management groups are out there using for whatever the hell they feel like.
I've got one. I've been a corporate employee for over 15 years now, in all honesty it's a good past time in that it's not all that difficult for the income. In all that time I've put in just small regular amounts to the 401k, enough for company to match it and that's it. That match is where the problem comes in, for me almost no matter what it's never a bad deal to put in those small amounts because part of your pay is tied to that match essentially. Yet, I really don't have much control over it. Sure, I can pick some different "funds" that are managed to pretty much do what they claim, but all they really have to do to keep everyone quiet is track the stock market like they say they will.
After all this time though, I think the 401k is my biggest asset, or if not it's close. I don't really dabble in other paper investments outside of the occasional stock trade or something and it's not much. I generally like tangible assets better, e.g. real estate.
I'm just one person out of tons that essentially are "forced" into this deal by making it so much of a no-brainer. Then you have those who parrot on things like "maxing out retirement savings" and things I totally don't believe in. I'm sure some buy into those too. All in the end, to give a few big corporate fund managers the power to do whatever the hell they want.
This is very relevant. Every month, I watch 6% of my paycheck disappear to the government, and my employer pays that 6% again. That is money I can do nothing with, and see not one cent of, until the government decides it's OK - and at the rate things are going in a few decades when I would qualify for getting Social Security, there's probably going to be nothing left (or, money printer go BRRRRRR making what is left worthless).
If I could pull all the money I've contributed (and will contribute) out of social security and stick it in a 401k, with the provision that I'll never collect a cent from it, I would sign that document right now. I'd prefer just pull it into my bank account but at least a 401k would give me limited control over it, and I would know how much there is and where it is.