Free Republic

[snip] On Thursday, the U.S. Senate Finance committee will listen to proposals from a range of interests. On the table are such ideas as revamping the tax treatment of 401(k) plans to make the system more automatic, and possibly adding caps to make contributions less tax-favorable to higher-income workers. The hearing comes as the so-called retirement deficient Income, the gap between the pension and retirement plans Americans have today and what is necessary to maintain living standards, is at a high of $6.6 trillion, according to the Retirement Research Center. "Fewer than half of the working public currently have access...

Any FReepers planning to cash out what's left of your 401k accounts before his messiah-ness is coronated? Even with (a) reduced value of 401ks currently, (b) taxability, and (c) early withdrawal penalty, it could be a good idea -- especially considering that some Dems in Congress have already talked about "safeguarding" (i.e., confiscating) our hard-earned money.