[freedumb2003]

>>Ms. Ghilarducci wants to ditch the 401(k) altogether. She and Blackstone Group President Tony James are recommending a mandated, government-run savings system that would be administered by the Social Security Administration and managed by investment professionals.<<

The Onion?

[Pontiac]

Ms. Ghilarducci wants to ditch the 401(k) altogether. She and Blackstone Group President Tony James are recommending a mandated, government-run savings system that would be administered by the Social Security Administration and managed by investment professionals.

Yah, that’s the ticket!

To see how well that will work just look at how well the state and city pension funds are doing.

[Yulee]

“are recommending a mandated, government-run savings system that would be administered by the Social Security Administration and managed by investment professionals.”

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It already exists: Social Security.

We are forced to contribute, and if we die the money goes to others, not our families.

Unfortunately the government at any time can decide to withdraw all your savings, IRA’s, Tax Deferred Annuities, etc. and leave a government I.O.U. in its place. This was done in Greece, and hopefully will not become the norm when our debt as a nation comes due.

[Rusty0604]

Isn’t that what social security is, Theresa? Rhetorical question.