New York TimesOn June 24, 2013, University of Massachusetts Amherst Economics Professor Nancy Folbre described the retirement crisis as sinking rowboats. Her point is clear - our current 401(k)-dominated retirement system doesn't work for the individual doing yeoman's work trying to get to retirement security.

She backs up this statement with numerous reports and data, including the National Institute on Retirement Security, books by Jacob Hacker and myself, the Center for Retirement Research at Boston College, the Transamerica Center for Retirement Studies, and my report on GRAs for the Economic Policy Institute (EPI). These sources support Folbre's conclusion, that we need a retirement security system that puts us all in the same ocean liner.