PBS' recent "Can You Afford to Retire?" documentary has sparked debate between the Profit Sharing/401(k) Council of America and the Employee Benefit Research Institute.
The Chicago-based PSCA issued a statement on May 23 in which President David Wray objected to the conclusion reached by the Public Broadcast Service's FRONTLINE program, which initially aired May 16. "If people believe that they will have to work until they die, they will stop saving for retirement," Mr. Wray said.
"Employees should disregard what was presented in ‘Can You Afford to Retire?' and, if they have not already done so, join their employer's 401(k) plan today," he added.
A day later, Dallas Salisbury, president and CEO of Washington-based EBRI, urged all Americans to view the documentary on the Internet and disputed the statement issued by the PSCA.
"Contrary to the conclusions of the Profit Sharing/401k Council, I believe repeated showing of the FRONTLINE program could cause people to wake up to the need to get moving on planning, budgeting, saving, avoiding debt, getting financial education and taking control of their lives so that they do not have to work forever. Bless them — I hope that more Americans take advantage of retirement plans at work," said Mr. Salisbury in a statement.
The documentary can be viewed on PBS' website at www.pbs.org/wgbh/pages/frontline/retirement.