I would think a lot of people would quit en masse and take the freaking penalty just to take their $$$ out of 401Ks. The bank of Stearns and Foster is going to do well in these times.
Very likely they’d shut down that possibility with no warning while they wrangled it out.
“I would think a lot of people would quit en masse and take the freaking penalty just to take their $$$ out of 401Ks. The bank of Stearns and Foster is going to do well in these times”.
Who’s to say the RAT scum would not make it retroactive.
“I would think a lot of people would quit en masse and take the freaking penalty just to take their $$$ out of 401Ks.”
Count me in. The government can have their 35-40% of my IRA - but I GET THE REST, and they will never get to touch that.
“I would think a lot of people would quit en masse and take the freaking penalty just to take their $$$ out of 401Ks”
Then again, if there is “a run on 401k’s and IRA’s”, the feds might just clamp down with a “401k Holiday” — all funds frozen, no withdrawals — just like they closed the banks in the Great Depression.
Not sure how folks would react. But I’d reckon the official line would be, “your money is safe, no one can touch it”.
Not even you.