Excerpt: Retirement income advisory processes should work like market prices rather than like central planning because, once we move beyond didactic examples, central planning cannot be smart enough or large enough or coercive enough to overcome the knowledge problem in the real world. 'Too big to fail' does not apply to retirement plans. Rather than making large and speculative gambles about the future, retirement income advisory processes should 'first build a floor'; they should build 'funded floors' and such measures should be reviewed at least annually.