As already noted, the Obama administration is planning on seizing private sector retirement plan savings and converting those plans to something called 'guaranteed retirement accounts', a form of guaranteed income annuity. The kicker is the government will "invest and manage the pooled savings." This handling of the funds is similar to social security. And, we all know what happened to that fund: Congress spent it all! We can reasonably assume the same will happen to our retirement savings. This scheme must be vigorously opposed.
The above link goes to the Shared Prosperity site that originated the idea.