I've also read about forcing future 401k investors to put in a percentage of their contributions, say 20%, into government controlled investments. I don't see them touching existing 401k investments.
I am not saying they couldn't do it. But their main goal seems to be to get everyone under some sort of tax deferred investment vehicle. And because Americans are by and large stupid about investments (in their minds), forcing them into a "stable" government investment.
One plan that was floated was to take all the 401K’s and put all those people into the Social Security system. IOW, send them social security checks, much less than most of those 401K’s would have paid out.