Sounds like some un-sourced rumor that Rush talked about on his show in 1990s,.
Good luck, it doesn’t sound real.
Not so. I found something here:
Private Nest Eggs Don’t Make Public Safety Nets
http://www.businessweek.com/stories/1994-10-30/private-nest-eggs-dont-make-public-safety-nets
“President Clinton installed Alicia H. Munnell, a vociferous advocate of pension taxation, as Assistant Treasury Secretary for Economic Policy. She wants to invest pension funds in public infrastructure and public education to “increase the resources available for future generations.” To achieve her goal, she devised a plan that requires taxpayers to report as taxable income the contributions that they and their employers make to pension plans, along with the earnings on the pension investments known as the “inside buildup.” To make up for not taxing pensions in the past, she wants to confiscate 15% of all pension fund assets.”