I have some bad news for you then: many of the companies that provide 401(k) were on the verge of collapse in 2008. The only reason people didn't lose their pensions entirely was because the government bailed them out...
You can always lose your money. Best to accept that and not worry too much.
> many of the companies that provide 401(k) were on the verge of collapse in 2008.
The stock market went to shit, not the providers.
The 401k appeal is that it's an account you *own* and the government can't touch for money, it would be the same as expropriating a bank account, which to be fair, the Argentinian goverment kind of did in 2001, hence why since then, people there save money in usd cash or in a foreign account, not in the local financial system.
If the US government has to expropriate or do weird stuff in general with 401k accounts, we are in a situation where shit hit the fan long ago.
No, 401k admins do not own the securities, the employees do. The comment is incorrect in implying the government bailed out the administrators, but the government did backstop the price the securities (the stock market) itself.
Hence why I think an SP500 investment is risk free on a >3 year timeline.
You can always lose your money. Best to accept that and not worry too much.