Treasury Taps Federal Retirement Coffers Again
Thrift Savings Plan used for debt ceiling relief
It won't take much for them to take from your IRA next.
I am totally serious.
Posted on 10/07/2013 3:59:13 PM PDT by dynachrome
Russia’s government is temporarily seizing $7.6 billion in savings from non-state pension funds while it carries out inspections, a move critics say looks like a “confiscation” aimed at plugging a hole in next year’s state budget.
Prime Minister Dmitry Medvedev told ministers Thursday that the government needs to check that the money Russians channel to private pension funds is safe. To do this, it will seize 244 billion rubles ($7.6 billion) from non-state pension funds and put them into the state pension fund.
Pension funds hold more than $100 billion in assets. Nearly half of that is mandatory savings managed by state-run bank VEB. Non-state pension funds and funds affiliated with state-controlled companies hold the rest.
Government officials say they’ll just hold the money on the state pension fund’s books for a year while the checks are carried out. But analysts say they suspect the government will be tempted to use the money to plug shortfalls in the pension system, instead of channeling funds from the state budget, as it has previously
(Excerpt) Read more at blogs.wsj.com ...
That is where it always starts, temporary.
This will happen here if things become dicey enough.
This will certainly put Putin in a new light.
We can thank Russia, Poland, and Cyprus for the warnings.
“This will happen here if things become dicey enough.”
Liberals don’t want private ordinary people to have money of their own. The Cloward Piven strategy was to bankrupt the middle class so they’d embrace socialism.
Having said that, all the government need do is click a mouse and it can “make” all the money it wants.
Yeh...temporarily...like our ss.
Soon to happening to our 401Ks.
“Liberals don’t want private ordinary people to have money of their own. The Cloward Piven strategy was to bankrupt the middle class so they’d embrace socialism.”
Well, then; this middle class American will then become a rebel, with all that is and means. Better to die on my feet than live on my knees.
Obama Moving To Steal Your Pension Plan
Several years ago a radical professor met with some key members of Congress to tout her plan to have the federal government raid private pension plans, including all IRAs and 401(k)s, and fold them into the Social Security Trust Fund, or a new superfund comprised of Government Retirement Accounts (GRAs). The story, although covered, was under-reported by the mainstream media.
http://www.pakalertpress.com/2012/11/29/obama-moving-to-steal-your-pension-plan/
Obama Moving To Steal Your Pension Plan
Several years ago a radical professor met with some key members of Congress to tout her plan to have the federal government raid private pension plans, including all IRAs and 401(k)s, and fold them into the Social Security Trust Fund, or a new superfund comprised of Government Retirement Accounts (GRAs). The story, although covered, was under-reported by the mainstream media.
http://www.pakalertpress.com/2012/11/29/obama-moving-to-steal-your-pension-plan/
Sorry about the double post. I blame Obama.
Leave it to the American media focus on Putin’s confiscation of pension plans, but totally ignore Obama’s stance on confiscating pension plans.
I have no doubt that there are contingency plans to do this.
They have been floating this since 08’ Teresa Ghilarducci is her name. Google her, dang near every financial magazine with gravitas has covered this and her including “Investment News” in Oct of 08’....
Treasury Taps Federal Retirement Coffers Again
Thrift Savings Plan used for debt ceiling relief
It won't take much for them to take from your IRA next.
I am totally serious.
Bud, you’re one middle class American who’ll wet his pants when those quiet young men from the IRS come knocking at your door.
This article (or actually a blog post) has a misleading title which is not supported by a following text and a text itself is misleading too.
Russia is hardly able to ‘confiscate’ any pensions because the vast majority of it held by budget itself or a state-owned banks. To make things clear, there is Federal Pension Fund managing all the pensions.
Russian pension system is too much complicated but in short since 2008 or something it is made out of two parts: “strakhovaya” =”insurance”, and “nakopitelnaya”=”saving”.
So-called “insurance” part is used FPF to pay pensions to a people who are already a pensioners and it was from commie times up to these days.
“Saving” part is a novel and it is about to offer you a kind of extras to a guaranteed minimum made out of “insurance” paid by a future generation.
It works as a kind of a bank account held by FPF, but you can opt and order FPF to transfer it into a private pension trust of your choice. A few people does because in order to encourage people keeping their money in FPF it adds up to a $500 monthly to double your said monthly investment if it is equal or lower than this sum.
Payments to FPF are mandatory there, a kind of taxes and for employees are set at a level of 16-22% for “insurance” and 6% for “saving” withheld by employer from your salary and sent to FPF.
I went through a bill this post speculating about and it has nothing to do with confiscating any savings but about to cut 6% “saving” payment for a year 2014 to 2% for people who hasn’t opted for an alternative fund to stay with a FPF and to direct the rest 4% of their payments into an “insurance” part.
I don’t know is it good or bad but it is not a confiscation and it actually encourages people to get divorced with the government system to some degree.
Thank you.
Only for those who were taken in by him.
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