This isn't a reform and it's not addressing the big problem. I have been saving in my 401k for my entire career. The choices employers offer are limited and often not good choices. IRAs on the other hand have 1000s of choices and little to no fees. Then these all this transfering 401k garbage if you change employers. You should raise the limit on IRAs to $55000 per year, allow employers to contribute directly to employee's IRAs and do away with the employer locked in 401k trickery. This will create free markets for investment savings. Some people worry that employees won't make good investment choices. Well employers haven't, though it could be worse - but as Warren Buffet says buy a low cost S&P 500 index fund and you will out perform in the long run. This isn't a reform and it isn't solving the big problem. CONGRESS I urge you to look at the big picture and work on the most important things.