With respect to young people, I would just like to say that public plans are completely transferable. Young people often worry about having to hold a number of jobs in their lifetime, and wonder how they will manage both the public and private plans.
For young people, however, the public plans are quite attractive because they are plans that will follow them for the rest of their lives. They are universal plans which are generally well managed, and whose administrative and management costs are much lower than for private plans.