I already have the option to go with an annuity at retirement. What they’re really saying is they want limit your choices to just T-bond based annuities.
Let me be the first to say....Norfolk-n- way.
I don't think they can get away with it. Meaning it will cause, at least, a political revolution. Democrats will be thrown out of office in even BIGGER numbers than is going to happen already, and the law will be overturned. Obama impeachment would certainly be on the table, and passing it through a Republican controlled house, regardless of what happens in the Senate, as was the case with Clinton, will serve as a very time consuming and effective check on his ability to do more harm to our nation, in the event he is still in office.
It is much worse than forcing you to buy T-bill annuities. It is confiscation of your assets fueling additional government spending. Your benefit stream will not have any assets to pay benefits. Your wealth will be treated identically to Social Security taxes: spent immediately so that spending levels will not need to decrease. The economy will be starved of private investment and the dollar will still be in grave danger because there will not be enough economic output to support incredible levels of government spending.