EPI......Ping!
I think the goal is to do the reverse, steal all the 401K money and prop up social security.
Time to confiscate those evil 401(k)s.
BS
Most workers failing the 401k plans.
Just because higher earners are able to leverage more benefits from 401K’s does not mean pensions are better investment instruments than 401k’s for the average worker.
contradictory.
if the accounts are causing a measurable “wealth disparity,” then people are certainly saving enough money to help their retirements
since the article does not make any other sense, our “propaganda alarm” is emitting a high pitched warble /..
No thanks, keep your damn hands off my money. I'll decide what's best for me.
Are we being setup for the grab?
What the hell are you trying to do? End the cycle of poverty in this country? Have people actually build up an inheritance that they can pass down to their family when they die? Don't be such a hater. Big Brother knows what's best.
Poland Confiscates Half Of Private Pension Funds To “Cut” Sovereign Debt Load...
(I left mine at it’s peak, several years ago, and took the penalty. No regrets. No worries.)
They should allow 401k plans, both employer provided and individual, the option of converting all funds to a regular savings account every 5 years. Remove the 10% early retirement penalty and offer a flat 15% tax rate and you’d see over 6 trillion in 401k balances convert providing a tax windfall for the government and a huge savings for retirees.
401s not making it? No kidding. NO growth in the economy, no return on investments.
Rate of return on stocks = inflation + dividend yield + GDP
Here it comes
We now are going to start hearing a lot more of these type of stories and “studies” in the coming months
The 401k was a great thing. The problem is convincing younger workers to utilize it to the max and not borrow against it.
“You didn’t build that!”
Hegelian dialectic at work.
1) The statist establishment creates a crisis by mis-educating the workers for decades.
2) Most workers won’t have any idea of how to calculate their retirement needs (they weren’t taught math or econ. in the publik skools).
3) In comes the “Government Family” on a white horse to save the day.
4) The ‘rich’ who were driven by the ‘perverted profit motive’ to screw the poor, will now have to ‘pay their fair share’. IRAs and 401K’s will be looted to pay for the righteous ignoramuses who voted for a free lunch. Many of them will use their benefits to buy drugs or enter strip clubs.
5) The rest is obvious. USA becomes Peron’s Argentina (run by Evita Clinton), or worse.
Baaaaaaa - Sheeple - Baaaaaaaa.
One might want to investigate what the ridiculous zero percent interest rate is doing to the 401k if your money isn’t growing you don’t have the benefit of compound interest and your money does not grow enough to provide a retirement income. It is just like Social Security which is also tied to a ridiculous interest rate, among other things, like not having the money go into a trust fund for SS recipients and instead being spent in the general fund where it cannot grow. The entire system has been corrupted by the Fed, Congress, and who knows what else.
No surprises here.
This is CBS BS. I am a worker and my IRA which I started at 27, has enabled me to become financially independent, even though I have inherited almost nothing.
Now they wanf to steal my IRA to “help” me. Right.