Deficit Committee goes after SS while DOL/Treasury goes after 401k (legal, vs)

[HappyTexan]

This was posted a few months ago..the meeting and write in comments.
Well the DOL had their meeting (2 day) and there were plenty in attendence with comments.

The DOL has posted video/transcripts of the 2 day event. I tried to watch the video but the download is horrible, and it's choppy and keeps stopping so I suggest you read the transcript instead provided in PDF format.
The meeting title is: "Dept of Labor/Dept of the Treasury joint meeting on Lifetime Income Options"

I'm slogging through it and still on Day 1 but some of the recommendations coming out of these "esteemed business folks" made me want to bash in the screen.

The purpose of these meetings is for the DOL to get info on 401K's AND defined benefit plans and making sure Americans understand annuities vs lump sum payments.

Some of the recommendations I've read so far:
-Let the Government create IRA and 401K and let people move their money there and get annuity payments
-Let the Government provide 401K annuities because only the Government can guarantee safe haven for guaranteed payments.
-Mandatory annuitization. Easy to do with a defined plan but hard to do legally with a 401K because that is mostly the individual's money.
-Design a new system for universal coverage with coverage for everyone (this one came from the AFL-CIO rep).
-Create a new type of Treasury Bond that pays monthly interest/principal for retirement purposes like an annuity.

Here's the link to the meeting videos/transcripts. I highly recommend you read them. This is the 2nd step in their process...this IS going through the government system.

This is no longer tin foil folks..not rumor, not hearsay, not a Fox fairytale.

Lifetime Income Options For Participants And Beneficiaries In Retirement Plans (http://www.dol.gov/ebsa/regs/cmt-1210-AB33.html - broken link)