I believe they will go after it via the back door by requiring a certain percentage of the 401K be invested with US Government bonds. They will start small at first say 5% and then increase that number over time.
Yep- leftists specialize in incrementalism.
the frog in the boiling pot doesn’t notice.
There was a bill in the house of representatives to your very point - it required companies to offer a qualifying retirement account, and mandated employee participation. The kicker was that some of the underlying investments were going to be mandated to be some very low “risk” (read interest) government issued retirement bonds.
The first bill was drafted about 2.5 years ago. (Private research papers were written/published on the topic.)