Retirement savings plan for a new age: Introducing the 701(k)

It won't happen any time soon -- we have too many pressing economic problems -- but down the road, after the 2010 Congressional election, look for citizens and policymakers to start clamoring about improving the current 401(k) retirement-savings system.

Most investors are aware of 401(k)s, the contribution plan that comprises the bulk of private retirement savings. These plans no longer look so attractive in an economic environment that's unlikely to repeat the Roaring '20s (or even the Roaring '90s) in the decade ahead.