Keyword: 401k

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  • Europe starts confiscating private pension funds

    01/03/2011 3:09:10 PM PST · by Nachum · 42 replies
    washington examiner ^ | 1/3/11 | Mark Hemingway
    The U.S. isn't the only place that's facing a major pension fund crisis. The Christian Science Monitor has this alarming report: People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends. In recent weeks I have noted five such attempts: Three situations concern private personal savings; two...
  • Small Business Owner Needs 401K Advice

    12/29/2010 7:16:46 AM PST · by NYACC1978 · 28 replies · 1+ views
    Self | 12/29/10 | Self
    Hello Freepers, I have been a lurker since the late 1990s. I think 1999 was the first year I started lurking here. I have enjoyed getting news on Free Republic for years and I have always thought the discussions about news articles were quite interesting. I have worked in various industries during my career. I worked as a computer programmer between 2002 and 2005. My second job out of college was called client services financial analyst. In 2007, I went back for my second master degree because I decided that it would be in my best interest to pursue accounting...
  • Four ways 60-year-olds can save their retirement

    12/12/2010 12:02:28 PM PST · by Graybeard58 · 25 replies
    Waterbury Republican-Republican ^ | December 12, 2010 | Robert Powell
    BOSTON — Odds are you're anything but average, but for a moment, let's pretend you are. And, if we pretend you're an average 60-year-old with a 401(k) plan, we may surmise that you don't have enough saved for retirement. According to a recent study by the Employee Benefit Research Institute and the Investment Company Institute, 401(k) participants in their 60s had an average account balance of $144,000 at the end of 2009. Workers in their 60s who have been participating in the same 401(k) plan for more than 30 years have on average $197,472 in their plan. Those numbers don't...
  • Accounting for Public Pensions

    12/10/2010 7:49:28 AM PST · by abb · 9 replies
    The New York Times ^ | December 9, 2010 | Floyd Norris
    A generation ago, when Ronald Reagan was president, the accounting rule makers forced American companies to come clean on the cost of the pension plans they were promising to employees. That decision, perhaps more than any other, heralded the eventual demise of defined-benefit pensions for employees of American companies. Now something similar may be in store for public sector employees, thanks in part to the Republican victories in last month’s Congressional elections. Forcing companies to account in a reasonable manner for their pensions was a contentious issue at one time. Companies feared it would slash reported profits, and they preferred...
  • American Retirement Funds at Serious Risk of Being Seized

    12/09/2010 9:40:45 AM PST · by FromLori · 57 replies · 1+ views
    The Market Oracle ^ | 12/7/2010 | Jeb_Handwerger
    The news of Hungary effectively seizing private pension fund assets to pay for the debt obligations of the state last week should come as yet another reminder of the urgent need to get tax-sheltered retirement savings away from the clutches of the state before it's too late. Hungary is just the latest country to decide that it's citizens retirement savings are the property of the state. The last major country to use similar tactics was Argentina who confiscated about $3.2 billion of pension savings in 2001 before the country stopped servicing its debt and then nationalized the $24 billion industry...
  • Lame Duck Threat to Bailout Union Pensions

    12/02/2010 6:24:33 AM PST · by shibumi · 4 replies
    Publius Forum ^ | December 2, 2010 | Warner Todd Huston
    -By Warner Todd Huston Connie Hair has an informative piece at Human Events about what Democrats are hoping to do in the next few weeks in this lame duck session by pushing another big union bailout. In October, Sen. Tom Harkin (D, Iowa) heard witnesses advancing the “Guaranteed Retirement Account” (GRA) idea authored by left-wing activist and purported “labor economist” Theresa Guilarducci. As an aside, Guilarducci being called an “economist” is an hilarious conceit. She is nothing of the kind but is merely a big labor activist disguising herself as an “economist.” Anyway, the Democrats would love to slip this...
  • What To Do WIth My 401K

    11/08/2010 6:54:06 AM PST · by alarm rider · 21 replies
    10/8/2010 | alarmrider
    Greetings, I was wondering if some of you more informed business types could suggest the best way to handle my 401K? I am due to retire in March, and I have received several opinions on what to do with the account. Is a IRA the best way to go, or is there something better. I need to be able to draw money out should the need arise. I thank you in advance for your input.
  • Mark Hemingway: Unions target your private retirement savings

    11/01/2010 8:40:42 AM PDT · by Nachum · 37 replies · 1+ views
    Washington Examinier ^ | 11/1/10 | Mark Hemingway
    Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that. On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on "Retirement (In)security in America." Among the proposals discussed was "Guaranteed Retirement Accounts," or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their...
  • Does It Make Sense to Decrease Your Retirement Savings to Pay Down Your Mortgage?

    10/27/2010 1:25:57 PM PDT · by Kaslin · 75 replies
    Townhall.com ^ | October 27, 2010 | Carrie Schwab Pomerantz
    Dear Carrie: I'm 60 and will probably retire between age 66 and 70. I currently have $375,000 in IRA/401(k) funds and I'm adding 8 percent of my income annually. My employer matches a portion. I still have a mortgage of over $165,000 at 4.75 percent. I'm wondering... should I stop my 401(k) contributions and apply that money in extra principal on my mortgage? If I do, I'd pay my house off in about 10 years, making life a lot easier when I retire. But I'd lose the tax advantages as well as the employer match. One idea is to contribute...
  • 401(k) plans will have to disclose fees (by 2012)

    10/17/2010 8:43:05 PM PDT · by Libloather · 7 replies
    Washington Post ^ | 10/16/10 | Margaret Collins
    401(k) plans will have to disclose feesBy Margaret Collins Saturday, October 16, 2010; 8:55 PM Employer-sponsored 401(k) retirement plans will have to disclose fees that savers pay on investments and transactions by 2012, the Labor Department said. "Participants will be able to understand the dramatic effect fees play in the returns that they get," Assistant Secretary of Labor Phyllis Borzi said. The regulations, which will apply to the plans by Jan. 1, 2012, will require companies to provide investors information on administrative and investment fees charged to their accounts in their quarterly statements, the department said. Regulators and legislators have...
  • T'S OFFICIAL YOUR IRA's and 401K's ARE ABOUT TO BE CONFISCATED

    10/16/2010 1:40:03 PM PDT · by MODELSHIPS · 36 replies
    Give Us Liberty 1776 ^ | 10-16-2010Give Us Liberty 1776 | MODELSHIPS
    T'S OFFICIAL YOUR IRA's and 401K's ARE ABOUT TO BE CONFISCATED
  • Labor Dept. Releases New 401k Fee Disclosure Rules(72 Million Enrolled in 401(k)'s)

    10/14/2010 10:29:26 AM PDT · by Son House · 4 replies
    KAALTV.com ^ | 10/14/2010 | Associated Press
    Department of Labor says it will require companies providing 401(k) accounts to lay out all the fees and other charges in plain language beginning Jan. 1, 2012. The new regulations, announced by Secretary of Labor Hilda Solis, will affect about 483,000 retirement plans. She said the 72 million workers enrolled in 401(k) plans will now have the detailed information they need to do easy comparisons of the costs of their investment choices in their plan. Companies must begin to lay out the administrative expenses, including accounting and recordkeeping fees, and the charges that apply to the individual choices a worker...
  • New Lame Duck Threat to Bailout Union Pensions (401k threat)

    10/13/2010 1:38:09 PM PDT · by roses of sharon · 47 replies · 3+ views
    Human Events ^ | 10/8/10
    Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone. Sen. Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci. In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions. ***...
  • Are Democrats really stupid enough to threaten 401(k) plans?

    10/13/2010 11:40:24 AM PDT · by anniegetyourgun · 119 replies
    Hillbuzz ^ | 10/13/10
    Honestly, I don’t even know what to say about this. Senator Tom Harkin of Iowa is threatening 401(k) plans — insisting Democrats can use the lame duck, post-defeat session of Congress to ram through a measure that would seize your personal 401(k) plans and use them to prop up the union pension plans that are imploding.
  • RETIREMENT SECURITY

    10/12/2010 12:08:39 PM PDT · by Immerito · 36 replies · 1+ views
    Boortz.com ^ | October 12, 2010 | Neal Boortz
    For 16 years I've been telling you that if the Democrats gained enough power in Washington, they would attempt to seize the money you have in your 401K, IRA and private pension plans. Many of you poo-pooed me, calling me "over-the-top" or unable to back up my claims. Maybe you might be interested in knowing that just last Thursday, a Senate Health, Education, Labor and Pensions Committee held a hearing on retirement savings and security. WebGuy forwarded me lots of emails of people asking me to prove it. So here you go. You can watch the committee meeting right here...
  • New Lame Duck Threat to Bailout Union Pensions

    10/11/2010 5:02:03 PM PDT · by 4buttons · 11 replies · 2+ views
    Human Events ^ | 10/8/10 | Connie Hair
    In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.
  • New Lame Duck Threat to Bailout Union Pensions

    10/11/2010 7:18:48 AM PDT · by Rusty0604 · 11 replies
    Human Events ^ | 10/08/2010 | by Connie Hair
    Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.
  • New Lame Duck Threat to Bailout Union Pensions (stealing 401k's)

    10/10/2010 7:55:51 PM PDT · by Zeddicus · 27 replies
    Human Events ^ | 10/08/2010 | Connie Hair
    Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone. Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci. In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions....
  • New Lame Duck Threat to Bailout Union Pensions

    10/10/2010 7:49:36 PM PDT · by Lorianne · 92 replies
    Human Events ^ | 08 October 2010 | Connie Hair
    Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone. Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci. (You can find the blistering interview with Guilarducci by radio talk show host Mark Levin in 2007 at the link). In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5%...
  • Democrats want a new mandatory government retirement plan to replace 401k, IRA.

    10/05/2010 11:20:30 AM PDT · by roses of sharon · 72 replies
    JimPethokoukis Twitter ^ | 10/4/10 | JimPethokoukis
    I am Live Tweeting America's Fiscal Choices conference at the Newseum in Washington, DC 2 minutes ago via TweetDeck # Teresa Ghilarducci wants a new "mandatory" government retirement plan to replace 401k, IRA; admits preferred euphamism is "universal" 10 minutes ago via TweetDeck # "Social Security is affordable and extremely efficient." We should have a national "conversation about expanding it." 22 minutes ago via TweetDeck # Teresa Ghilarducci is on panel; she wants to get rid of 401ks and IRAs and create a new government retirement system 24 minutes ago via TweetDeck # @juliemrobison Indeed, they have! 26 minutes ago...
  • (Greedy government) Workers resist North Dakota switch from pension to 401K

    09/25/2010 5:32:48 AM PDT · by Libloather · 16 replies
    Workers resist ND switch from pension to 401KPosted in: Valley News Live Facebook, By the AP Sep 22, 2010 - 6:03:30 AM BISMARCK, N.D. (AP) _ Spokesmen for North Dakota school teachers and government workers are resisting proposals to put new employees into a 401(k)-style retirement savings plan. Both teachers and government workers now have pension plans with guaranteed retirement benefits. The pension funds are in financial trouble and North Dakota lawmakers are looking for solutions. A legislative committee is considering proposals to ease the state out of the pension business and put new workers into 401(k) type plans that...
  • Retirement Fund Trillions Lure Government Grabbers

    09/14/2010 8:18:59 PM PDT · by CapnJack · 9 replies
    American Thinker ^ | September 14, 2010 | Peter Raymond
    Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea. This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to "transform" this nation. A logical next step would be to legitimize the confiscation of private retirement assets -- an idea that was contemplated in the recent past by the Clinton administration. According to the Investment Company Institute, there was $7.835 trillion in...
  • Retirement Fund Trillions Lure Government Grabbers (Obama coming after your 401k and IRA after all)

    09/14/2010 5:42:35 AM PDT · by bestintxas · 186 replies · 4+ views
    american thinker ^ | 9/14/10 | Peter Raymond
    Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea. This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to "transform" this nation. A logical next step would be to legitimize the confiscation of private retirement assets; an idea that was contemplated in the recent past by the Clinton administration. According to the Investment Company Institute, there was $7.835 trillion in IRA,...
  • Mandatory Retirement Accounts in Sen.Bill - S. 3760 -Automatic IRA Act of 2010

    09/07/2010 3:27:53 PM PDT · by Fred · 48 replies · 2+ views
    Americans for Limited Government ^ | 090710 | Americans for Limited Government
    FYI - I am not attempting to promote this organization. I used their article because it does an excellent job of describing the bill and the disaster this will be if passed. September 7th, 2010, Fairfax, VA—A new bill proposed by Senators Jeff Bingaman and John Kerry would force enrollment in “automatic Investment Retirement Accounts”, prompting Americans for Limited Government (ALG) President Bill Wilson to urge the Congress to reject it. “This legislation will force Americans into a government-mandated, ‘one size fits all’ retirement account,” Wilson said, adding that it would “disproportionately impact younger and lower-income workers, who will now...
  • U.S. Government plots to confiscate your retirement funds.

    09/05/2010 2:47:16 AM PDT · by Lexluthor69 · 64 replies · 2+ views
    The Silent Majority ^ | 09-05-10 | Southernman
    With the government facing an escalating crisis of debt it seems they are becoming increasingly creative (devious) with solutions. We have reported previously on the U.S. government’s intimations that they would move to nationalize private retirement accounts (Obama’s Socialist Government Coming For Your Pension ). Now it seems that the Department of Labor and the Treasury Department are beginning to take the steps necessary to do just that. The following excerpts come from an article entitled “US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement Accounts“: On August 26, the US Department of Labor issued a...
  • Gov wants your 401(k),Hearings require Treasuries in 'automatic IRA' Sept 14-15

    09/02/2010 12:54:07 AM PDT · by Fred · 50 replies · 1+ views
    worldnetdaily.com ^ | 090210 | Jerome R. Corsi
    The Obama administration appears to be proceeding with a novel way of financing trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their investment accounts. The requirement to invest private retirement assets has been cleverly buried within plans to create "automatic IRAs" that would mandate employer groups enroll all employees in 401(k) or IRA plans. The U.S. Department of Labor released yesterday an agenda for an upcoming joint hearing with the Department of the Treasury scheduled for Sept. 14 and 15 on whether government life-time annuity options funded...
  • US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement Accounts

    On August 26, the US Department of Labor issued a news release It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.” The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration. I don’t like speaking in tabloid-style terms, but the unstated agenda of these hearings, as I understand it, is to push for the US government to eventually nationalize (confiscate) all assets in private Individual Retirement Accounts (IRAs) and 401K plans! The US government is desperate to...
  • Disturbing Trend -- and Worse to Come [Hardship withdrawals from 401(k)'s at record high]

    08/21/2010 5:22:10 PM PDT · by 2ndDivisionVet · 139 replies · 1+ views
    American Thinker ^ | August 21, 2010 | Eileen F. Toplansky
    As the economy continues to worsen under Obama's "recovery" plan, more disturbing news emerges. A record number of workers made hardship withdrawals from their 401(k) retirement plans. In fact, "the number of workers borrowing from their accounts reached a 10-year high" and reflects "the financial stress many workers" are experiencing according to Beth McHugh, Fidelity's vice president of marketing insight. The report was made by Fidelity Investments which administers 17,000 plans and represents 11 million participants. The number of people initiating the hardship distributions has risen from 45,000 in 2009 to 62,000 in 2010. Equally alarming is that "45 percent...
  • "Don't Blame Pension Wes on Unions" (any my response)

    08/20/2010 5:25:44 PM PDT · by Rusty0604 · 8 replies
    Sacramento Bee ^ | Aug 20, 2010 | Sanford M. Jacoby
    For those lacking a traditional pension, the best solution I've heard comes from economist Teresa Ghilarducci of the New School. She envisions a mandatory system of guaranteed retirement accounts run by the Social Security Administration. Workers would put 5 percent of their earnings into these accounts, the government would invest it in the private sector, and there would be a guaranteed inflation-adjusted return on each account of 3 percent annually Read more: http://www.sacbee.com/2010/08/20/2970854/dont-blame-pension-woes-on-unions.html#ixzz0xC9NY8Gu
  • Regarding a 401K from a previous employer...

    08/13/2010 2:39:11 PM PDT · by beaversmom · 39 replies
    U.S. Dept of Labor ^ | August 13, 2010 | beaversmom
    My husband had a 401K with a previous employer. We let it sit with the old company's administrator. It wasn't losing or making any money. Checking on the 401K administrator's website the other day, I see, to my surprise, the balance is zero in his account. It had been moved to a new company as the previous employer had been bought. Calling the new administrator for one question, we find out from them that my husband is no longer vested in the company match as he had once been. Speaking today with www.dol.gov/ebsa in Kansas it seems that the new...
  • Retirement will be risky for many Americans, study says (All your 401k are belong to them?)

    07/23/2010 7:38:18 PM PDT · by Libloather · 73 replies · 2+ views
    STL Today ^ | 7/21/10 | DAVID NICKLAUS
    Retirement will be risky for many Americans, study saysBY DAVID NICKLAUS Posted: Wednesday, July 21, 2010 1:20 pm More than 40 percent of Americans are at risk of having too little retirement income, a new study by the Employee Benefit Research Institute says. What's more, the oldest workers are the least prepared to quit working. The EBRI says that 47% of early Baby Boomers are at risk of running out of money in retirement, compared with 44.5 percent of Generation Xers. For some people, retirement savings won't last very long at all. Among the lowest-income quarter of the working population,...
  • Is a Roth IRA Safe From Taxes?

    06/24/2010 10:35:02 AM PDT · by Qbert · 31 replies
    WSJ via Yahoo Finance ^ | 6/23/2010 | Laura Saunders
    Congress wouldn't tax Roth IRAs, would it? It is a burning question for thousands of taxpayers now deciding whether to pay taxes to convert their regular individual retirement accounts to Roth accounts. All taxpayers are eligible to make the switch, because this year the income limit of $100,000 was permanently repealed. Many have done so already: Fidelity Investments says that as of May 31, the firm had handled 87,000 Roth conversions this year, about four times the number for the same period last year. But dozens of less-convinced readers have asked Tax Report about Congress's intentions, and well-known IRA expert...
  • Economic Growth and Institutional Innovation [new 401K scheme]

    06/01/2010 7:56:24 AM PDT · by NativeNewYorker · 13 replies · 545+ views
    Brookings ^ | 6/2/10
    One option is a mandatory retirement savings program to supplement Social Security. Workers would be required to set aside a fixed percentage of earnings and invest them in generic funds—equities, public debt, private debt, real estate, commodities and cash. For those who fail to designate a percentage allocation for each fund, a default program would take effect. (Participants always would have the option of regaining control.) As workers near retirement age, their holdings would be automatically rebalanced in a more conservative direction. One version of this proposal calls for “progressive matching,” in which low-earning individuals receive a subsidy equal to...
  • One Inflation Threat You Haven't Thought Of (The coming pension debacle)

    05/29/2010 9:31:13 PM PDT · by Libloather · 10 replies · 1,108+ views
    Fool ^ | 5/29/10 | Jim Royal
    One Inflation Threat You Haven't Thought OfBy Jim Royal May 29, 2010 Ready for the next kick to your retirement? You should be, because managers at America's public pensions are making a series of egregious financial decisions that will jeopardize your retirement income. But it's a problem that you can address now. It's a tearjerker Here's what's happening, according to a recent article in the Wall Street Journal. Pensions are supposed to be among the most conservatively managed portfolios, since millions of retirees rely on income produced from them. But because managers at public pensions are frustrated with the returns...
  • Private pensions to fund housing (Hold on to your shorts, IRAs & 401ks)

    05/29/2010 8:57:31 PM PDT · by Libloather · 24 replies · 767+ views
    Times Online ^ | 5/30/10
    Private pensions to fund housingPlan will offer lucrative returns on bonds linked to infrastructure projects May 30, 2010 The Scottish and UK governments are to target private pension funds to raise capital for public-sector infrastructure projects. Faced with swingeing budget cuts and a fall in bank lending, Alex Salmond and Vince Cable, the British business secretary, plan to offer private pension firms lucrative returns on government bonds linked to social housing, transport and green energy developments. Currently, many of the funds, worth about Ł1 trillion, are investing in American corporate bonds that offer a higher rate of return than UK...
  • Is Your IRA or 401K a Target of Government Appropriation? (YES!)

    05/22/2010 7:16:34 AM PDT · by Libloather · 66 replies · 2,614+ views
    Resource Investor ^ | 5/19/10 | Chris Blasi
    Is Your IRA or 401K a Target of Government Appropriation?Chris Blasi Published 5/19/2010 Will the laws and rules in place to protect individuals in their attempt to set something aside for retirement be safeguarded by the representatives elected to advocate for them in Washington? Will the principles and moral integrity of the political class keep them from appropriating the trillions of dollars held in 401k's and IRA's? I'm not so sure! While the answer is most likely yes, when one realizes the magnitude of the financial predicament the U.S. might well find itself in shortly, it is indeed, conceivable that...
  • Thrift Savings Plan - The Model for all 401(k) Plans!

    05/17/2010 7:14:42 PM PDT · by Poundstone · 20 replies · 1,486+ views
    CBS Marketwatch ^ | May 16, 2010 | Allan Roth
    For quite some time now, I’ve been enviously looking in from the outside at what is easily the best 401(k) retirement plan in the country - The U.S. Government’s $254 billion Thrift Savings Plan (TSP). Several years ago, I had the good fortune to get to know Mike Causey, senior correspondent for Federal News Radio. He was extolling the many benefits of the TSP so I thought I’d check it out, and what I discovered blew me away.
  • Obama’s Socialist Government Coming For Your Pension

    05/14/2010 5:30:40 PM PDT · by Lexluthor69 · 15 replies · 1,136+ views
    The Silent Majority ^ | 05-14-10 | J. D. Longstreet
    Months ago we warned that Obama’s Socialist government would be coming after the American workers/retiree’s savings. We warned that our new “collectivists” government was going to seek some way of looting America’s retirement funds and simply taking that money for America’s new socialist government to use towards payment of the humongous debt the Obama Regime has run up with their host of socialist/marxist’ programs… including ObamaCare. Many of you thought it was a stretch, and you didn’t believe us because, well, it was just TOO difficult to believe that your government, an AMERICAN government would do that to it’s citizens....
  • Obama Administration Plans to Seize 401(k) Retirement Accounts

    05/06/2010 4:55:29 AM PDT · by IbJensen · 107 replies · 4,699+ views
    The New American ^ | 5/6/2010 | Joe Wolverton II
    One aspect of a new and improved federal regulatory scheme is the seizure of 401(k) retirement plans and the subsequent government-administered disbursement of the funds. In Chapter 3 of the Annual Report on the Middle Class released in February by Vice President Biden and the White House Task Force on the Middle Class, the Obama administration calls for enhancing the “retirement options” for the middle class by imposing “new regulations to improve the transparency and adequacy of 401(k) retirement savings.” The plan, as sketched in the 43-page document, calls for the creation of something called “Guaranteed Retirement Accounts” (GRAs). Biden...
  • GOP send letter to Solis and Geithner opposing nationalization of 401(K)

    05/05/2010 6:18:06 PM PDT · by Rusty0604 · 41 replies · 1,081+ views
    The Department of Labor is still eyeing a private savings takeover (most likely to fund debt and public pensions). Thankfully a few members of Congress are not ignoring it. Letter at link.
  • Obama and the Democrats are Coming After Your 401k

    05/04/2010 9:18:17 PM PDT · by NY Hockey Mom · 28 replies · 1,257+ views
    The Lonely Conservative ^ | May 4, 2010 | Human Events
    Nothing is safe with these people running the show. I warned you back in October of 2008 that the Democrats wanted to do away with 401k accounts, to be replaced by “guaranteed retirement accounts.” Well, they’ve been busy wrecking the economy, passing trillion dollar health care bills and exploding the national debt. That doesn’t mean they’ve given up on their wish list. And it looks like our 401k accounts are right there at the top of that list.
  • Republicans Sound Alarm on Administration Plan to Seize 401(k)s(So it can go to Union supporters)

    05/04/2010 10:15:20 AM PDT · by bestintxas · 12 replies · 2,138+ views
    humanevents ^ | 5/4/10 | connie hair
    In February, the White House released its “Annual Report on the Middle Class” containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options. The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement -- which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies. Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report. In conjunction with the report’s release, the...
  • Republicans Sound Alarm on Administration Plan to Seize 401(k)s

    05/04/2010 7:43:39 AM PDT · by ConjunctionJunction · 232 replies · 7,343+ views
    Human Events ^ | May 4, 2010 | Connie Hair
    In February, the White House released its “Annual Report on the Middle Class” containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options. The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement -- which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies. Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report. In conjunction with the report’s release, the...
  • The Grudge Match Over Your 401(k)

    04/24/2010 2:44:54 AM PDT · by Daisyjane69 · 12 replies · 1,167+ views
    WSJ ^ | 4/17/10 | ELEANOR LAISE
    Attention, workers: A battle is brewing over your 401(k). A number of people who are changing jobs, being laid off or retiring are finding themselves in a tug-of-war between their former employers and investment firms eager to win their business. At stake: almost $400 billion of assets in 401(k)s and similar retirement plans that are eligible to be rolled over into other vehicles this year, according to Allianz SE's Pacific Investment Management Co., or Pimco. View Full Image David Walter Banks for The Wall Street Journal Chris Green, formerly of the Miami Dolphins (below), at his home office. The National...
  • Government Plans to Loot Your Retirement Account

    04/12/2010 8:45:17 PM PDT · by XHogPilot · 204 replies · 9,427+ views
    Capitalist Magazine ^ | 24 Mar 2010 | Sylvia Bokor
    The EBSA Proposed Rules is undisguised looting of employer and employee alike. In a proposal entitled EBSA Proposed Rules, the Labor and Treasury departments are requesting information from employers, employees, financial institutions and others regarding Retirement Accounts. They "are asking for public input about the use of annuities in defined-contribution plans, such as 401(k)s. . . . including the advantages and disadvantages of distributing benefits as a lifetime stream of income . . ." The 401(k) plan was created and is regulated by the government. It consists of two types of plans: the Defined Benefit and the Defined Contribution. In...
  • Tell Me about the Financial services takeover (next Obama crap sandwich) vanity question

    04/07/2010 11:11:36 AM PDT · by Mamzelle · 11 replies · 210+ views
    vanity question | 4-7-1- | mamzelle
    Informing myself about the Health Care Bill has made it difficult to know even the rudiments of the next awful thing--financial services takeover. Can someone start to fill me in, provide some background?
  • Unions want to dump pensions on taxpayers

    04/06/2010 7:06:18 AM PDT · by rvoitier · 73 replies · 2,836+ views
    The Daily Caller ^ | 04/06/10 | Aleksandra Kulczuga
    Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis.Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act of 2010 to address the funding problems faced by union-administered multi-employer pension plans.Multi-employer pension plans have to cover the benefits of members, even if their companies are defunct.
  • How will ObamaCare affect my 401k?

    03/28/2010 8:53:50 AM PDT · by HDCochran · 55 replies · 1,720+ views
    Vanity | 3/28/10 | self
    I know that ObamaCare will impact the profitability and growth of investments in my 401k, but does it affect it even more directly? How are capital gains and dividends from stocks held directly in 401k treated and affected by the new medicare charge? What about from stocks in mutual funds held in 401k? Will I be TRIPLE taxed?
  • Unions Want To Take Over Your 401(k)

    03/26/2010 8:48:39 AM PDT · by Titus Quinctius Cincinnatus · 61 replies · 2,332+ views
    Money News ^ | 17 Mar 2010 | Gene J. Koprowski
    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...
  • Bend Over America: Now The SEIU Wants Your 401k!

    03/25/2010 7:34:29 AM PDT · by FReepaholic · 80 replies · 2,687+ views
    Market Ticker ^ | 3/25/2010 | Karl Denninger
    Having ruined the pension funds of Americans nationally through corrupt and utterly unsustainable "projections" of future growth labor unions are now targeting your money to make up the difference: 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. Yes, because labor unions have done such a great job of managing their pension plans, right?Oh wait,...