Kent Conrad: “if we could ask colleagues' indulgence for a few more minutes here, we are very close. We have made enormous progress in…”

Millions of Americans are financially unprepared for their retirement.

I would just say our Retirement Security Plans and our Retirement Security Clearinghouses are responding to the underlying dynamic that Professor Mead has done such a good job in describing.

I wish I could look you in the eye and say, you know, if we just had the will, we could reverse this, and we could go back to a time when defined benefit plans were on the increase. I do not think that is in the cards.

The one thing I know for sure is that what is happening now is not working.