The WSJ is reporting that retirement funds are being ravaged by the crisis.

Americans have lost $2 trillion in their workplace retirement plans in the past 15 months, threatening the security of millions, according to government data.

The Congressional Budget Office disclosed the figures at a hearing by the House Education and Labor Committee, prompting some legislators to question whether retirement-savings plans are inherently too risky. The $2 trillion figure includes 401(k) plans — which have become the primary savings vehicle for 60% of workers — as well as traditional pension plans.

The 401(k) plans, which require workers to manage their own retirement savings, have been the hardest hit, according to the Congressional Budget Office.

The losses, which are likely to force many people to delay retirement, are prompting some legislators to take a new look at the legislation that created 401(k)s and subsequent laws that have allowed investment companies to steer workers into riskier funds. Congress created the investment accounts about 25 years ago. Today, 401(k)s have largely replaced traditional defined-benefit pension plans.