Death of the private retirement fund. Get out of the peoples business and let private companies guide people toward investments. Union plans are a ponzi scheme. The government who gives you something has the same right to take it away from you. You can watch your balance grow....but you cannot touch it........LOL!
The New School of Social Research tells me all I need to know. I’ve been reading about her ideas for years..and they will cause me to take up arms if they even try. Hands off my 401K, madam.
oh please spare me
one needs only to look at the mismanagement of state pension funds to get an idea of what will happen should states be given conservatorship
specific reference: Calibrokeifornia
Does this mean that we will all be able to retire at age 40, with 80-100% of our peak salary coming to us for the rest of our lives? Is that the model that will be put in place?
Governments are financial wizards in the same way they are efficiency and cost-cutting wizards. They’re not.
That's enough reading to know this is another bolshevik grab for control.
And the 401K is a similar thing. It will collapse once enough people hit retirement. Hate to say it, but we are made to work till we can't, not have a second adolescence.
or to put all that into easy to digest sound byte form...
THEY ARE GONNA STEAL YOUR 401K TO PROP-UP FAILING UNION PENSION FUNDS, AND MAKE IT LOOK AS IF THEY ARE DOING YOU A FAVOR IN THE PROCESS.
That's worked SOOOOOO well here in Illinois.