Government should not attempt to define the results. Give a clear equal opportunity to use the savings accounts with a max defined contribution per year based on income for that year and then let people finish where they may. Attempting to frame the results from a pedestal of "truth" is an unsavory tactic of the left. Once enough people feel envious then the left gets what it wants.
3 million is arbitrary, but its more absurd that adults would stand for this type of defined results system. That type of thinking and policy will destroy incentive.
Beyond that,... There is plenty of money and food to go around, if leadership hadn't so squandered this counties resources and policies to achieve one of the greatest wealth divides of a developed nation, then we would never need a tourniquet placed on the tax code so that most people can afford retirement. Perhaps we need to go back to the drawing board rather than squabbling over the leakage of the great hemorging body that is our current state of affairs in government regulations and their enforcement (lack of if you have the right name or size bank account).