[Wicket]

We're from the government and we're here to help - yeah, right.

[Billthedrill]

Normally I'd be skeptical, but hey, these are experts. Top experts.

I do think, though, that they ought to lay out their own personal finances for public inspection before they decide to change ours.

[Kansas58]

Unions hate 401K plans since THEY want to claim credit for any benefit!

[texas booster]

Would OUR money be invested as the heads of CALPERS decide to invest them?

Or would there be an even more stupid way to invest money in mob related activities and leftist companies?

[Pearls Before Swine]

Financial repression.

Main threads here: 1) If you don’t make enough money to sock away a retirement, we need a program to socialize that, 2) Because some investments may go bad, let’s force everyone into a plan heavy on government securities (which incidentally helps government funding near term), and 3) the fund holding industry is looking for ways to give you less back than you’ve saved.

Great. The lesson here—once you’ve let the government control your assets for the promise of tax benefits, they’re going to take more than they initially said.

[Tallguy]

4.3 Trillion Dollars that the Feds would dearly love to get their grubby little hands on...

[skeeter]

Aren't they kind of raising the bar? I thought the 401k was originally intended to be a simple encouragment for workers to save towards retirement, not provide a garaunteed living wage from retirement until death.

I think its more likely the powers that be are coveting that 4.3t stash of hard currency.

[ConjunctionJunction]

Pfl.

[paul51]

Public Employee Retirement Systems is proposing that states, already used to running efficient pension plans, could run private pensions for small employers.

LOL yeah, let the gov't run it. That will take care of it

[rocksblues]

This Teresa G. is a proponent of taking all retirement savings and giving it to the Government to put into a trust fund in exchange for a guaranteed return.

Probably will work until the politicians find a way to raid it like they did with Social Security.

[ColdSteelTalon]

I think Joe Biden once said while he was a Senator that all private pensions and 401K and other retirement plans are all an “asset of the American people”.

[FightThePower!]

Get ready. They are going to confiscate your 401k by forcing you to buy government bonds. If you have “too much” most of your money will be redistributed to people who didn’t save.

[SueRae]

Not just no, HELL NO!!!! They would have us give them our hard earned money so they can dole it back to us on their terms. OVer my cold, hard dead body. Ghilarducci and her ilk can step off. I cannot BELIEVE this is up for discussion. Oh, HELL NO!

[Vince Ferrer]

This is because the pension funds running out of money. They have to get a new source of funding, so they are going to get your 401k money.

[Mariner]

Once the private money is in the hands of the public plan administrator, he will use that money to purchase the high-risk and underwater assets of the public plan at face value.

Thereby showing returns as projected...not the enormous losses they would incur if the assets had to be marked to market.

Magic. All problems solved.

[funfan]

So is the run up on stories that will enable them to steal all 401k plans?

[Myrddin]

The weasels want to get their hands on the assets in the private 401k accounts so those can be squandered as well. My 401k is ALL I have for retirement. If it is stolen, I'm left with no assets except social security. Others similarly situated will create a large population fully dispossessed of a lifetime of prudent savings. When you have nothing left to lose, the reaction may be less than cool headed and rational.

[Mike Darancette]

Hank Kim of the National Conference on Public Employee Retirement Systems is proposing that states, already used to running efficient pension plans, could run private pensions for small employers.

Ummmmmmm....NO!

[G Larry]

Folks seem to underestimate the disaster that is Obama.
Should he be re-elected, this will be:

THE LAST AMERICAN GENERATION!

[Mike Darancette]

Is this the plan where you accrue benefits in an account which they annuitize at retirement age; but, if you die the government keeps the money?

[Freddd]

‘Current and future retirees now have some $4.3 trillion.-—

Well they did before the government spent it.