I’m not blaming him for not investing the retirement accounts in the stock market. I don’t think the program was a good idea for people to be forced to pay into something that they may not have wanted. Especially so in the mid 1930’s when life expectancies where in the low 60’s. But like many government programs if they don’t forcibly compel people to pay into, there won’t be enough volunteers to keep the Ponzi scheme afloat.
Oh, and employers are made to pay a matching .0625% as well.