Experts open playbook on retirement plan reform

Am I missing something? As a retirement plan third party administrator, the most obvious detriment to retirement savings is the current distribution system than only penalizes terminated participants 10% if they take their distribution as a taxable event. That penalty should be the same as not taking a required minimum distribution, i.e. 50%. Most employees receive taxable distributions even just a few years before retirement because they “need” the money. If you really intend to increase retirement savings then you must address the easy distributions currently allowed. Perhaps we should go back to the old money purchase plan and force persons to leave their money in the plan until full retirement age. I vote for a minimum 50% penalty if withdrawal is done before age 65.