[Labyrinthos]

Another change that American workers should be wary of, according to consumer advocates, is adding annuities — complex financial tools offered by insurance companies — to 401(k) plans.

While the Rats claim they are for the little people and working stiffs, this provision pumps billions of dollars into the hands of the greedy insurance companies and so-called financial planners. Annuities are inappropriate for 99% of investors because of their high costs, expenses, fees, commissions, lack of liquidity, and surrender charges. And in my opinion any insurance agent, financial adviser, or employer who peddles tax deferred annuities for use in a tax deferred retirement account, ought to go to prison for fraud.

[FalloutShelterGirl]

While the Rats claim they are for the little people and working stiffs, this provision pumps billions of dollars into the hands of the greedy insurance companies and so-called financial planners

And THAT is the key. The insurance industry wanted to get their piece of the 401(k) pie so they sent their army of lobbyists to congress to grease the congressional members palms and behold...a new law proposed to "help the little people." That's how congress works.