The 401k plan has not been an ideal retirement investment in this market and extended recession. 

Most investors have have seen their accounts drop dramatically. Experts on retirement planning will start to debate the merits of the 401k plan and Congress will address the retirement planning landscape too.

Here's a panel of experts on 401k plans and possible suggestions.

Courtesy of the NYTimes.com

So Much for the 401(k). Now What?

401(k) plans will probably be replaced by — 401(k) plans.

The sad fact is that any form of retirement plan causes risk to someone. Traditional pensions put the risk on the company; government-managed systems put it on the taxpayer, who already must pay for Social Security and Medicare excess costs. What is needed is a way to reduce risk on the individual 401(k) investor.

First, we need to make retirement saving easier. Automatic enrollment has made the 401(k) process simple, especially for those most prone to under-saving: younger workers, women, small business employees and minority workers. However, only about half the work force is employed by a company that offers 401(k) plans.