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Amid Tax Talks, a Cry of 'Save My 401(k)!'
CNBC ^ | 11-27-2012 | Staff

Posted on 11/27/2012 6:37:47 AM PST by Red Badger

Edited on 11/27/2012 6:38:54 AM PST by Admin Moderator. [history]

As the debate around tax reform grows more heated, broker-dealers and other companies that service retirement plans offered by employers are increasingly concerned that the tax benefits of 401(k) plans are on the chopping block.

An industry group that normally works behind the scenes, the American Society of Pension Professionals and Actuaries, on Monday launched a media campaign intended to educate U.S. employers and workers that the federal government might consider changing the tax benefits of retirement savings accounts.


(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Government; Politics/Elections
KEYWORDS: 401k; ira; keogh; pension
http://savemy401k.com/
1 posted on 11/27/2012 6:37:50 AM PST by Red Badger
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To: Red Badger
My guess is there are far fewer 401k owners to state employees and social assistance recipients.

Sorry, 401k owners.

2 posted on 11/27/2012 6:40:16 AM PST by skeeter
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To: skeeter

Argentina’s socialist government seized all that country’s 401k assets, and has already spent them all.

Don’t think that would go over real well, here.................


3 posted on 11/27/2012 6:45:42 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Red Badger

There isn’t a single piece of evidence in that article suggesting that changes are being considered.


4 posted on 11/27/2012 6:48:45 AM PST by FewsOrange
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To: Red Badger

The trillions invested by the middle class in 401K’s and IRA’s is now too tempting for the ravenous Washington establishment to ignore. If they don’t find a way to tap retirement money in this round of talks, they certainly will in the near future. After all, it isn’t fair for some people to have money in savings and others not.


5 posted on 11/27/2012 6:49:47 AM PST by Soul of the South
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To: Red Badger

But Obama would declare it done with a single Executive Order and the media would declare it a holy writ.


6 posted on 11/27/2012 6:59:41 AM PST by FormerLib (Sacrificing our land and our blood cannot buy protection from jihad.-Bishop Artemije of Kosovo)
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To: Red Badger
We HAD individual retirement accounts. Then they set up Social Security. Then that started getting overloaded so they wrote the rules for 401k's and the like...

Now they want to take it all away again.

F*ck that. Time to bleed.

7 posted on 11/27/2012 7:02:20 AM PST by Dead Corpse (I will not comply.)
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To: FewsOrange

> There isn’t a single piece of evidence in that article suggesting that changes are being considered.

These are the “trial balloons”. In 6 months time they’ll be talked about as if they are the accepted wisdom for solving the government’s fiscal problems. Besides, those greedy rich people with more than $250K in their 401Ks shouldn’t be so selfish as to not “spread the wealth around”.


8 posted on 11/27/2012 7:09:20 AM PST by glorgau
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To: Red Badger

Sweden did something similar. Friend of mine lost about $80K.


9 posted on 11/27/2012 7:25:26 AM PST by CrazyIvan (Obama's birth certificate was found stapled to Soros's receipt.)
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To: FewsOrange

http://www.dol.gov/ebsa/pdf/1210-AB33hearingagenda.pdf

Note the source.


10 posted on 11/27/2012 7:33:05 AM PST by Dead Corpse (I will not comply.)
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To: CrazyIvan

We have too many weapons in private hands to let them get away with something like that. THAT’S why they want to disarm the people first..............


11 posted on 11/27/2012 7:36:06 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: skeeter
401's is all a lot of us have....we have no cushy defined pension like the govt workers.....
12 posted on 11/27/2012 7:53:22 AM PST by cherry
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To: All
As the debate around tax reform grows more heated, broker-dealers and other companies that service retirement plans offered by employers are increasingly concerned that the tax benefits of 401(k) plans are on the chopping block.

Does anyone know the extent of the changes they are talking about? Are they talking about rule changes for new retirees or across the board for all 401K, 403B, IRA, &c already in existence?

Regards,
GtG

13 posted on 11/27/2012 2:18:36 PM PST by Gandalf_The_Gray (I live in my own little world, I like it 'cuz they know me here.)
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To: All
As the debate around tax reform grows more heated, broker-dealers and other companies that service retirement plans offered by employers are increasingly concerned that the tax benefits of 401(k) plans are on the chopping block.

Does anyone know the extent of the changes they are talking about? Are they talking about rule changes for new retirees or across the board for all 401K, 403B, IRA, &c already in existence?

Regards,
GtG

14 posted on 11/27/2012 2:18:49 PM PST by Gandalf_The_Gray (I live in my own little world, I like it 'cuz they know me here.)
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To: glorgau
greedy rich people with more than $250K in their 401Ks shouldn’t be so selfish

The IRS taxes income not wealth, there is a difference. To change that would introduce government confiscation of private property, removing all doubt about the nature of the thugs in charge. If they can dismantle the Constitution with a stroke of a pen on an EO, it's time to take it to the street! Gandhi or Patrick Henry, take your pick, time to restore the Republic...

G

15 posted on 11/27/2012 2:44:03 PM PST by Gandalf_The_Gray (I live in my own little world, I like it 'cuz they know me here.)
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