Ted Benna, 57
President, 401(k) Association; inventor, 401(k) pension plans
"One hundred years from now the 401(k) will be long gone and won't be a subject. The thing that will determine (what will replace it) is government policy and corporate assessment of its roles . . . One of the things that will be significant is whether the tax benefit will be primarily employment based . . . The other possibility is that retirement savings could be strictly an individual thing. I just tell my employer where to send the money for my retirement account just like I tell my employer now where to send my check to direct deposit into my bank account.
"I think the major social trend (of the future) will be intergenerational tension . . . It will be first played out in health care for the elderly . . . Retirement will be right behind it . . . There will be pressure to reduce Social Security benefits for those who are retired. Hopefully, it does not become as bad as Russia where the elderly have been displaced and pensions are shrinking to virtually nothing with horrendous consequences."