because they are expecting to confiscate all funds in those accounts
on a side note... while looking for a recent quote, i was astonished to see how many times this subject has been broached since 2008. they are pushing on it... just trying to find the right way in.
The link you provided cites an article written by a guy that owns and runs a business that sells coins and bullion (i.e. hard assets). Has it occurred to you that he might be trying to scare you into stopping contributions to your 401(k)/IRA and buying from him instead?
Unlike most people, I've actually read the Request for Information from the Dept. of Labor. They aren't proposing any such thing. They are asking 401(k) administrators what would happen if the DoL were to require administrators to provide an option to 401(k) account holders to convert their balance into an annuity.
That's it. Period. There are some additional related questions, but it comes down to whether 401(k) administrators should be required to do the same thing that some 401(k) administrators already do.
You won't be required to buy an annuity. And even if they don't require 401(k) administrators to offer that option, you can buy a tax-deferred annuity RIGHT NOW with your 401(k) and/or IRA.