Nebraska Sees Red Over Its 401(k) Plans

Chalk up one another big black mark against the beleaguered 401(k). After 38 years, the state of Nebraska has recently jettisoned its version of the retirement plan, judging it a failure.

It's too early to gauge the reverberations from the Nebraska decision. But it could mark the quiet beginnings of a backlash against the notion, popularized over the past decade, that ordinary Americans should put on money manager hats and assume responsibility for their retirement security. ...