[Rummyfan]

But there's a lot wrong with the 401(k) program. For starters, these retirement accounts have dramatically shifted two huge risks from employers to individuals. Individually managed 401(k) plans also come with a much bigger investment risk.

Yes they do but I'll take the risk thank you. The Social Security 'trust fund' has already been plundered and now these commissars want to plunder individual savings accounts. There will be civil war if the Feds try to take away people's 401(k)s.

[an amused spectator]

There will be civil war if the Feds try to take away people's 401(k)s.

Rush Limbaugh apparently got a hot tip on how they'll do it, and explained it yesterday.

They'll offer to restore your portfolio to its pre-"Win The Election For Obama" condition - provided you sign your life away.

Many will fall for this.

[mylife]

There will be civil war if the Feds try to take away people's 401(k)s.

Why? No one gave a toss about SS or pensions. 401ks were never intended to replace those.

401ks are supposed to be a supplement to SS and pensions.

I'm just playing devils advocate here. There was no Civil war when companys started reneging on their pensions.

[Red Badger]

There will be civil war if the Feds try to take away people's 401(k)s.

That's what I said, too. And it will be bloodier than the first one............

[slowhandluke]

In addition to plundering SocSec, the government has allowed companies to plunder pensions by letting them switch from the old-style defined-contribution to cash-balance policies under extremely company-friendly accounting rules.

"Don't give the suckers an even break!" is the motto.