Free Republic

Our DemocRATic Congress critters have brought to our attention a DANGEROUS FRAUD that is perpetrated on all of our valiant public employees! Those poor souls, only recently (1991) granted the benefits of Social Security, are FORCED to look toward PRIVATE ACCOUNTS for their financial security in their golden years. This is all hidden in the fancy packaging of something called Thrift Savings Accounts. See for yourself by clicking on the link provided for this post.Oh sure, they make it LOOK safe and give you all these fancy choices, but behind it all the gubermint is simply making the rich fat...

A money savvy Marine Corps sergeant serving in Iraq didn't wait to get back home to buy a shiny new car with his $30,000 re- enlistment bonus. Instead, he invested all of it into the Thrift Savings Plan. "Assuming a 7 percent rate of return, his $30,000 is projected to be $345,000 by the time he reaches age 60," said Army Lt. Col. Janet Fenton, executive director of Armed Forces Tax Council. "If he continues to contribute to TSP throughout his career, he could have more than $1 million saved by the time he retires." A million dollars isn't anything...

<p>Coming soon — maybe by mid-June — the old reliable, 1980s model federal 401(k) plan will be overhauled, upgraded, tuned up and given more horsepower.</p> <p>The new bells and whistles will enable federal and military investors to make better-informed decisions, and act more quickly with their $100 billion accounts. They also will make it possible for investors with the proper computer equipment to engage in day trading — which is usually the ticket to a much smaller 401(k) account balance.</p>