Republicans Sound Alarm on Administration Plan to Seize 401(k)s
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.
This is seriously bad news for retirees and those still working and paying into their 401(k). Write your Congressman!
4 comments:
I can think of nothing that would rouse the working man more than seizing his 401k and turning it over to big labor goons---talk about revolution!
From my cold dead hand.
It is in the works. Act now!
In years past, I would never believe something like this. It would seem like a conspiracy theory. But today, under this administration, things like this seem almost routine for them.
We will fight this.
Debbie
Right Truth
http://www.righttruth.typepad.com
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