Some in a study were shown age-enhanced photos of themselves while others did not see such images. Those that looked at their old age squarely in the face put an average of 6.8 percent of their salary in their 401(k)s. Those that didnt deferred 5.2 percent.

One-third of investors said they thought their children would be worse off they would be, 40 percent about the same and 30 percent better.

The best approach, said a study in the Journal of Financial Planning, is to start retirement with no more than 30 percent of savings in equities and gradually raise the percentage over the years.

By valuing liabilities at a rate that assumes no risk, the Rockefeller Institute of Government said taxpayers would have a better idea of the state of the pension funds.

A half a decade of strong stock performance, with double digit increases last year alone, left its mark on 401(k) allocations, with equities reclaiming their traditional place in participant portfolios.

Large institutional investors, including pension funds, have their sights for 2014 set on alternative investments, such as real estate and real assets, according to a survey by BlackRock.

Leading the pack was Sullivan & Cromwell, a law firm based in New York. BrightScope noted the plan for its low fees, company generosity, participation rate and the size of participants account balances.

The reforms, which led to a strike this week and street protests outside the capitol, increased employee contributions to the retirement system to 10 percent of salary from 9 percent.