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Think4Yourself-
"I'm not seeing anything on any creditable news sites yet. It seems to be a wild claim made only on right wing blogs so I think it is safe to say this is not creditable."
The National Seniors Council is more dangerous than the New Black Panthers- Ha!
I knew I had seen this before. Notice that the linked post is from 10/13/2010.
Anybody have any recent activity on this supposed effort?
The Latest move can be found in the Obama Administration`s, 256 page- FY 2013 Budget Proposal. The revival of his 2008 presidential run, the “Automatic IRA” which has now “Evolved” into two proposals: Secure Choice Pension & Government Retirement Accounts (GRA’s), both of which automatically- “Mandate” 5% - 6% contributions into Government Run Pension funds.
They have also talked about taking away the pre tax contributions to 401K's. I'm sure that will happen first. They alread went after flex contributions in obamacare.
I knew I had seen this before. Notice that the linked post is from 10/13/2010.
Anybody have any recent activity on this supposed effort?
Yeah, republican governors in 4 states have tried to take away government worker's like union firemen, teachers and police pensions and their ability to collectively bargain. Does Wisconsin ring a bell?
Plus the link claims that Obama personally will confiscate all private pension funds. what a load of Right wing republican scare tactic, crapola. No way would he or could he do such an outragious thing. Anybody who believes this is truly deaf, dumb and blind to the truth.
The Latest move can be found in the Obama Administration`s, 256 page- FY 2013 Budget Proposal. The revival of his 2008 presidential run, the “Automatic IRA” which has now “Evolved” into two proposals: Secure Choice Pension & Government Retirement Accounts (GRA’s), both of which automatically- “Mandate” 5% - 6% contributions into Government Run Pension funds.
They can do that to themselves because they are the employer. But so far the public discussions have only talked about the other retirement vehicles..401K and IRA and have never even mentioned private pensions.
I'm following this and have been for a few years. Us peons are still safe.
If I were a government worker though I would definitely get myself educated on their proposals and weigh the effect on one's retirement.
The problem though is not how money goes INTO the accounts but how it would come out.
I have read proposals of putting people on annuities with COLA adjustments each year. That takes away your choice, doesn't give you access to your funds and treats your retirement funds like SS. What if you wanted a lump sum distribution or part distribution, part annuity ?
Anyway..it pays to pay attention to what the government does with their own workers' pensions because it's plausible that they could try to implement this to the public.
FWIW, Americans have amassed over $1 trillion in 401K/IRA/Roth/etc retirement accounts.
You can only imagine what Congress would do if they got access to those funds.
The Latest move can be found in the Obama Administration`s, 256 page- FY 2013 Budget Proposal. The revival of his 2008 presidential run, the “Automatic IRA” which has now “Evolved” into two proposals: Secure Choice Pension & Government Retirement Accounts (GRA’s), both of which automatically- “Mandate” 5% - 6% contributions into Government Run Pension funds.
Thank you for posting!
Anything with the words, "Government run" makes me shiver.
No, thanks. Our SS trust fund has been stolen, and that's bad enough.
best,
toodie
Thank you for posting!
Anything with the words, "Government run" makes me shiver.
No, thanks. Our SS trust fund has been stolen, and that's bad enough.
best,
toodie
I'll bet a government-run military and police force scares you most of all, doesn't it?
Plus the link claims that Obama personally will confiscate all private pension funds..
No but he could personally lobby for it and get it passed. Like he did with the 'Affordable Health Care Act'.
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