The Retirement System? It’s Already Broken

“Time to Fix the Retirement System Before It’s Broke” (April 2), by James Flanigan, is interesting, but it misses an important point. The retirement system is broke.

Beginning with the Employee Income Security Act in 1974, Congress has seen fit to pass more than two dozen laws discouraging employers from providing retirement plans for employees. If that is not enough, the bureaucrats have issued thousands upon thousands of pages of regulations making employer-sponsored retirement plans even more unattractive.

There is an answer, but no one wants to address it. It’s called incentive. Make it attractive for businesses and business owners to sponsor retirement plans and they will do so.

JAMES G. KREDER

Laguna Beach