The 401(k) system has come under a lot of criticism since the financial crisis hammered workers’ nest eggs. About two thirds of employers believed employees had ‘adequate’ retirement and investment planning resources. At the same time only 15% thought employees “made good use” of the resources and only 22% thought employees made “informed decisions” about retirement. There have been a slew of proposals about what to do to make 401(k)s better, including turning automatic enrollment and automatic escalation in the contribution rate into mandatory default settings for employees, and requiring that more default 401(k) investments be cheaper options according to a recent story in Smart Money Magazine.