"Charles Ellis, founder of Greenwich Associates ... [said,] 'We've shifted the responsibility for virtually every decision from the corporation to individuals,' ... adding his observation that individual investors do not do a good job of investing, nor of saving ... AEI Resident Scholar Andrew Biggs argued that how one assesses retirement readiness depends in part on how retirement savings are measured.... '[T]he real problem is on the government side.' In his view, it's 'putting too many eggs in a very risky basket' to depend on Social Security and state and local governmental retirement systems.

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