In most cases a worker can choose the employer determined Black Rock, State Street, Vanguard, etc. 401K plan or they can have no 401K. Employees do not have enough control over their own money. They should be able say no to plans that enforce ESG scoring or that give power to the military industrial complex, big pharma, and other morally challenged groups.
We should make self-directed, 401K’s/ and other types of self-directed retirement accounts more accessible. America could choose options that both earn more money and that are in alignment with their values. The Controligarchs* currently use ordinary America’s retirement accounts as leverage to pressure big business into falling in line with their agenda. We should be able to take our own money and vested employer contributions elsewhere.
We should also be able to take sizable loans against our own 401Ks when starting a business, buying a home, or paying off high interest debt. We do not need government to solve all our problems. We just need government to make policies that protect the interest of regular Americans instead of policies that protect the deepest pockets.
(In this summary I address 401Ks, but this could also be allied to other types of retirement accounts)
*I took this term from Seamus Bruner