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Because the government never stops at one thing. Once they've assumed power to regulate or control one part of something, they then creep up on more and more power. I'll use smoking for an example. Back when city/state governments began banning smoking in the workplace (private businesses) some (including myself, a non-smoker) said it won't end there and we were right. At first that "workplace" didn't include casinos, bars, and restaurants that served alcohol. At that time most average people didn't believe they'd ban smoking in bars or casinos. Well guess what. They did. Then they began to ban smoking on beaches and city parks. Now some municipalities are slowly working on banning smoking within your home. They've started with apartments and townhouses. Then they'll ban smoking in people's homes if they have kids. Then they'll outright ban smoking within your own home. Don't think they would? Well, 20 years ago people didn't think they'd ban smoking in bars, beaches, or city parks either.
I think it's a shame that we have reached a point that it is so easy to believe that something like this could actually happen. However, as noted above, incrementalism works very well and is practiced by all political parties.
I am reminded by the above of the comment from my wife many years ago when the smoking thing was getting started. She said "you smokers aren't fighting hard enough. They will take care of you and then they'll start on us fat people". Seems she was right.
Clearly you didn't read your own links. For example:
"Depending on their choices, retirees could be at greater risk of outliving their pension and retirement savings plan assets or ultimately having insufficient income to maintain their standard of living through their retirement years.
Such risks underscore the need for providing enhanced information and education to participants about their available payout options, the issues they may face in managing retirement assets, and how different options may mitigate, or increase, these risks. As part of their responsibility, retirees will have to weigh certain pros and cons of different ways to manage and preserve pension assets. Currently, the notices that plan sponsors must furnish to retiring participants are not sufficient to help them choose payout options that suit their individual circumstances, while assuring adequate levels of such income to the extent possible."
Why would you object to enhanced and more easily understood information provided to plan participants? That just seems. . . odd.
at least if a retiree passes away now, he can leave his 401k/ira/roth to his heirs, but if the feds are in charge of it, it will just go into their pockets and not his heirs. what proof do I have of this happening? why take a look at social security, if you die, your money that you put in all your life does not go to your heirs, but it stays in the feds pocket instead of your families.
I mean, isn't this what we want from our government and its agencies -- to ask us for our input and for them to listen to people and make decisions based on that? I didn't read one thing in the RFI that would indicate any kind of government takeover of anything.
When has the government EVER considered input from the people?
Why would you object to enhanced and more easily understood information provided to plan participants? That just seems. . . odd.
From the GOVERNMENT? Give us a break!
I don't need a 90 page booklet with circles and arrows and a paragraph or 500 to figure out why *I* can't use *my* funds when *I* wish.
They've NO business in my business.
This subject has been around for a while. Why? Because they haven't passed legislation as yet that will give them control over the citizenry's savings funds.Once they write that law and pass it in some popular named legislation so no one notices it, it will be too late.
If anyone thinks this isn't how unpopular laws get slipped into bills, then you aren't paying attention.
Gold up to 1,280 an ounce. Wait 'till you see how high it goes when the $600 rule for 1099s goes into effect, as people move out of paper gold into physical to avoid paying cap gains.
Not directly related, but sort of because people might get out of IRAs if they feel threatened and move into physical assets that are untraceable.
Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea.
This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to "transform" this nation. A logical next step would be to legitimize the confiscation of private retirement assets -- an idea that was contemplated in the recent past by the Clinton administration.
...If I wanted socialism I'd move to Cuba, thank you very much...
“How about keep your thieving mitts off? D.”
Please stay the heck away from my 401k. You clowns have jacked with enough stuff,...
... keep your hands off my 401k....
Are you crazy???? Why would I want the US government anywhere near my 401K....
... I will take it out and put it in my mattress before I will let the government have it...
...Personal retirement accounts, not Government slush funds...
... I don't need your help, taking my investments and returning me worthless Treasuries....
And my favorite, this one inspires me actually:
....Any attempt to take control of any portion of Americans' retirement savings will be met with the strongest possible resistance by all of us who have been responsible enough to save for our futures. We are smarter than you think....
I hope the right-wing lunatics continue with the hysterical fearmongering. They make it clear that Democrats are the rational ones.
Go ahead. Flame away, my pretties!
What fearmongering ? The DOL had a 2 day meeting on this.
Did you read my previous links to the DOL site with the meeting dates and agenda and summary ?
They feel they can do a better job, via regulation or mandate, of managing our retirement accounts be it IRA, 401K or defined pensions.
They don't like the thought of people taking lump sums.
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