It has been in the make for years. Another change being speculated is that IRAs will not be transferrable upon death. We stopped contributing several years ago.
How anyone in their right mind can put their trust in government is almost inconceivable.
That they think they have a right to your money underscores that they think they have a right to your time and efforts. Essentially, they think they own you. Tell me how that interpretation is incorrect.
The sustainability of the US as a nation has been largely predicated on the ability of individuals to jump socioeconomic class based on their own efforts. The resentful among us want this to stop.
Google “Teresa Ghilarducci” and learn why she’s been called The Most Dangerous Woman in America.
The eventual plan is to seize all 401K assets and replace them with a “guaranteed” Federal pension for everyone. One that is “fair”.