> That mostly solves that problem, but leaves people like me that would like to handle retirement savings themselves a bit annoyed.
Ironic, because that's how I feel about speed limits: it's for the best overall but annoying to those that drive well... and you're from Germany where they have the Autobahn.
That said, my concern for my dim-witted but well meaning citizens makes me willing to bear this for the overall good.
The US has Social Security which is basically a state run retirement. The problem is that it's funded by the people currently working. This worked out great when there was a surplus of workers. Now that less people are working than are retiring, the social security funds are in danger of running out.
SS has a surplus designed to keep it solvent for the reasonable future. The real issue is a low cap on contributions when most economic growth in the last 30 years has been in the top 5%. Coupled by an ever growing disability burden that has nothing to do with retirement and who's growth is linked to states trying to shift burdends to the federal level.
That mostly solves that problem, but leaves people like me that would like to handle retirement savings themselves a bit annoyed.