I just read the Time Magazine article about why 401K's should be retired.The article basically talked about how the old pension programs were cancelled as companies tried to cut costs and increas profits. The article then showed how 401K's have not performed as well compared to old pension programs.The main reasons for the lack of performance in 401k programs were said to be lack on individual investment by employees, poor fund performance, and lack of time for 401K programs to grow. Of course anytime you look at the performance of an investment program during one of the worst markets in history, there will be arguments for something different.I can't imagine trying to retire within the past few years. Just when you think everything is all set, your retirement account drops 30 - 40 % and now you either can't retire or will need to live on much less.The proposed fix for future retirement plannig is to have retirement insurance programs. This way, the risk would be pooled and benefits would be guaranteed.I think the idea of retirement insurance is interesting. I'm not sure on all of the details or if there are retirement insurance plans available now.Since I am younger, I plan to continue investing in 401K and mutual fund investment programs. So far, my recent investments have been doing pretty well.I understand though that I am not the usual person. Most people are not taking responsibility for their own retirement savings. Most people are not visiting sites like this one to talk about investing.What will happen if many people do not invest in their personal retirement savings accounts and if the ones who do see poor performance. We might have a crisis on the horizon with tons of senior citizens not being able to afford basic amenities.