What I think they will do is raise the tax liability on all 401 K accounts.
401 K contributions are tax free until you take it out at retirement or under a hardship reason (10 % penalty).
It would not surprise me at all to see taxes as high as 75 % of accounts over a million and moving down to "only" 50 % on accounts over $100,000
After all, a large percent of the money in your 401 K is company matches which I'm sure will somehow morph into dem talking points that loss tax revenue the government didn't get in the first place
So they won’t let us personalize our Social Security accounts, but they’ll gladly nationalize our 401k accounts (or tax the hell out them at retirement).
Why retire? Why donate to a 401k if the Feddies will “take care of you”. Just keep working until you drop dead.
There is roughly $13 Trillion in investment accounts, yeah they won’t wait for taxes they will take it now and give us an IOU like they did for the Social Security Fund.
what company do you work for?.......I have no defined pension plan and the hospital I work at puts a pittance away for me....almost all of my money in my 401 is what I put there...