Originally Posted by patteeu
I don't think it misses that point at all. I think that point is pretty irrelevant. The government could have created a 401K with any degree of government micromanagement or none at all. Preferring a more hands off approach is no more hypocritical (as you seemed to imply in post 7) than preferring a heavily micromanaged approach.
The fact is that it did create a 401k. It's involved, and the question that opens this thread appears oblivious to that. If government weren't involved with 401k plans, we wouldn't have 401k plans.
If honestchieffan wants a more accurate thread title, as I think he should, he could consider something like, "Do you want the government to prevent fraud with your 401k plan?"