If you want to really find out what’s going on, research the middle class task force that was created early in the Obama administration. The expansion of ERISA (under the department of labor) and the proposed lifetime annuities are cause for real concern. They have proposed that a portion of qualified plans be carved out for lifetime annuities that start at the citizens age 75. Of course, they want these lifetime annuities to be funded by government, not life insurance or annuity companies.
Yes and SSI was supposed to mimic the annuitization of a life policy, look how good that has worked out, it is broke. Yes you are correct, hidden in a bill forwarded by Rep Richard Neal of Mass a few years ago was reference to a gov t. guaranteed note or some other instrument I had never heard of before. I asked here on FR, what is it? Do any FR-finacial Pro's ever heard of it? I hadn't, neither did they. My guess is it what you talked about and what Teresa Ghilarducci has been on a screed about and that is 401k's are no good bla, bla, bla...
Uh-huh, right.... I am not buying any of what they are pedaling...