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What should be done with the unemployable people?
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That doesn't mean much. If a person is too old to learn a new job, they should be able to retire. If a person's cognitive ability is THAT low, so low they can't learn the simplest of jobs, they should probably be in some care facility or (better) be cared for at home with their caretakers (who've had proper training) receiving adequate compensation. Why are we talking, in this context, about people who are unable to work anyway?
Don't get me wrong, I'm very much against what we've come to call "AI" and how it's taking over everything.
What if their wages hadn't allowed them to build up a 401k? They likely won't be able to survive on social security alone.
I don't even really know what a 401k is, I'm not from the US. The fact that globally social security systems are failing due to neglect and tax gifts for the rich is a whole other issue.
In the US, pensions have become extremely rare, and were mostly replaced with a 401k, which is essentially a tax deferred stock market account. Often your employer will match contributions that you put into it up to a certain point.
Alright. Sounds like bullshit that you're going to have to deal with, whether or not we're facing the AI apocalypse, and I sympathise.