Keep your hands off my 401 K

[11thHour]

Originally Posted by SilverOne

Administration Advances Plan to Federalize Private Pension System

At stake for the millions of Americans with private retirement plans: Would they be able to continue making their own investment decisions? Or would Congress mandate both investment options and distribution methods? Government Retirement Accounts also would prevent workers from owning their retirement savings fully, as they could bequeath only half of their remaining account balances to their heirs.

Thanks for the update. The last part about the gov't taking fully half of your account upon death caught my eye also. What a friggin' joke. The federales want to get their grubby hands on every single aspect of our lives.

[Goodnight]

Originally Posted by 11thHour

Thanks for the update. The last part about the gov't taking fully half of your account upon death caught my eye also. What a friggin' joke. The federales want to get their grubby hands on every single aspect of our lives.

I believe this is the federal register notice from February, I do not see any mention of a government takeover of 401K's.


Request for Information Regarding Lifetime Income Options for Participants and Beneficiaries in Retirement Plans (http://www.dol.gov/federalregister/HtmlDisplay.aspx?DocId=23512&AgencyId=8 - broken link)