Thing of it is, what are most of those retirement dollars held or invested in? Stocks and government debt (bonds). Pieces of paper in the case of bonds or claim to a fractional ownership of a company in the case of stocks.

All of that "value" could turn very fantom. Going to be more people retiring and trying to cash some of it in than there are working people buying them as savings for their future as time goes by. Demographics could be very hard on the stock and bond markets going forward. At least on their "real"  (purchasing power) value. The Fed has shown it can maintain "nominal" value by creating enough new dollars.

John