Skip to comments.Unions Want to Take Over Your 401(k)
Posted on 03/23/2010 4:05:47 PM PDT by 444Flyer
One of the nation's largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the United States.
In effect, government pensions for everyone, not unlike the European system and regardless of personal choice.
The SEIU, which was integral to the election of Barack Obama as president, is working with the left-leaning Economic Policy Institute (EPI), and the National Committee to Preserve Social Security and Medicare, on SEIU's plan, called "the Retirement USA Initiative."
Claiming that the retirement system in place now has "failed most Americans," EPI vice president Ross Eisenbrey, told a labor union publication that "account balances have fallen by a third since late 2007, leaving many older workers unable to retire just as our economy is shedding millions of jobs.
(Excerpt) Read more at moneynews.com ...
Benefits that move with you, even if you change jobs
Payouts only at retirement
Shared responsibility among employers, the government and employees
Pooled assets, controlled by professional investment managers
The day they do that will be the I cash in. Penalties be damned.
For me, this will be the shot heard ‘round the world.
I warmed you all in Nov 2008. Here it is.
There won’t be a single SEIU member alive if they try this.
They are too late. I cashed mine out about a week after Obama was elected. I would put all of my cash in a pile, douse it in gasoline and set it ablaze before I let the Government under Obama have a single cent of it. Why should I care? I already have healthcare since yesterday.
Anythings possible these days. Remember, Andy Stern’s now on Obama’s National Debt Commission.
Of course it will.
The government has done such a fine job managing Social Security, Medicare, Medicaid, Fannie Mae, Freddie Mac, etc., etc.
It’s true. I heard Bob Brinker talking about it about 2 weeks ago. It is for real.
Yet another large "trust" fund from which to steal money.
They'll have to somehow tank the equities markets first - and then come in and "rescue" those who have lost huge sums of money for the second time in as many years.
When it passes the House or the Senate, I'm cashing in all of my retirement accounts, without waiting for the bill to pass both chambers or to be signed. I will not participate in socialism. Also, I won't take the risk that the thugs will stop me from keeping my money.
There might be one kept alive in my basement for a few days. Did you see Hostel?
If you wait, it will be too late.
We’ve already done so.
This is getting interesting. Maybe we need to start a poll on just what will be the straw that breaks America's back?
Even with all that has happened, and is happening, I still put my money on an attempt to repeal or severely limit the second amendment.
When will the RICO charges be filed against SEIU.
Did not do much for my utility bills.
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