calcowgirl wrote: “The author is a nutcase, or is pulling an inflammatory headline from a nutcase. No one is talking about, or implying, confiscation.”
..... Swindlers rarely reveal their true intentions to the victim. I would suggest that only time will tell whether the author is a “nutcase”, or is simply better than you at reading between the lines of bureaucratic double-talk.
Here are a few questions to ponder -
Why, after about thirty long years of the IRA program being in existence, the sudden interest NOW?
Why do you think the government has suddenyl deemed it desirable to suddenly explore the idea of establishing a state-controlled annuity program when that area has been satisfactorily been handled by the private sector for generations.
Exactly what sort of involvement by the Department of Labor and the Department of the Treasury would you imagine to be useful or desirable as regards management of a citizen’s retirement savings?
The author has been predicting the same thing for at least a decade (he wants you to buy gold). I've been involved in the bureaucratic double-talk business for twice that long. I am well aware of Government meddling and overreach; but this isn't it.
Why, after about thirty long years of the IRA program being in existence, the sudden interest NOW?
Did you read the Federal Register RFI that I linked above? They are discussing more than IRAs and this is not a "sudden interest" -- they have hearings and make regulatory changes all the time.
Why do you think the government has suddenyl deemed it desirable to suddenly explore the idea of establishing a state-controlled annuity program when that area has been satisfactorily been handled by the private sector for generations.
??? Where the heck did you get that? ("state-controlled annuity program"). Nothing in the source material states such a thing, nor implies it.
Exactly what sort of involvement by the Department of Labor and the Department of the Treasury would you imagine to be useful or desirable as regards management of a citizen’s retirement savings?
I guess you're not familiar with EBSA (the Employee Benefits Security Administration within the DOL)? You know, the folks that administer ERISA (the Employee Retirement Income Security Act of 1974 that covers a variety of retirement and health benefits in private industry.) And since there is specific qualification criteria for the variety of retirement programs, and corresponding taxation implications, the IRS (Treasury Department) is involved.
In short -- this is nothing new. They have these hearings and make changes to regulations, all the time. ERISA has had major modifications since 1974: COBRA, HIPAA, etc.
For your reading pleasure:
TITLE 29 - LABOR (as of January 5, 1999)
CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM