I cannot think of a policy that will more quickly induce people to quit investing in IRA’s and other retirement accounts.
There are a few bloggers and a Federal Register entry that show GRAs are indeed what is planned. Worked in Argentina....
http://ppjg.wordpress.com/2010/08/30/are-guaranteed-requirement-accounts-in-your-best-interest/
“Currently the concept is proposed as an Automatic IRA, (aka GRAs) we hide the “Opt Out” part in pages and pages of legislation forcing Congress to pass the bill to find out what is in it, and then give the option of investing in “R” Bonds which of course some blue ribbon panel/commission/oversight committee could appropriately administer after they have been created, I just betcha’ it could be pulled off. In fact, if we offer employers no fiduciary liability if:
they use a provider that is on a list of approved providers or uses R-Bonds.”
and I can not think of one that would have people coming to washington with torches.
“I cannot think of a policy that will more quickly induce people to quit investing in IRA’s and other retirement accounts.”
They don’t care about that. All they care about is the $6 trillion in those accounts that they could use to buy more votes and keep them in power just a little bit longer.
And I will come out of retirement making tar pots, bulk packages of feathers, and guillotines.
I cannot think of a policy that will more quickly induce people to buy Guns and Ammo.
That’s the point. They also want you to liquidate the accounts (the Feds collect a hefty penalty when you liquidate...). They want you to stop saving and spend your money.
Best of all, this creates a new “retirement crisis” for the Federales to exploit.