Say goodbye to your 401k

[irie]

How about this plan the lefties are floating around to do away with 401 k's, mandate a 5% contribution to a "new" plan administered by the SSA with a guaranteed 3% return. There would be no benefit for employers to do any matching. Watch out for the Obama, Reed Palosi trifecta.

 

[Silence]

where are you getting that information from?

I would say post a link but i know you can't so tell us the website please.

 

[Truthmatters]

really stupid crap they are resorting to huh?

 

[sealybobo]

How about this plan the lefties are floating around to do away with 401 k's, mandate a 5% contribution to a "new" plan administered by the SSA with a guaranteed 3% return. There would be no benefit for employers to do any matching. Watch out for the Obama, Reed Palosi trifecta.

I love you neo kooks. Everything you say about Democrats are things you are doing to us yourselves.

If you haven't noticed, your 401K is half!!!!

So the only thing you could possibly say is that the Democrats will cost us the other half? HA!!!

The GOP said tax increases would lead to a crashed economy. HELLO??? Their tax breaks led to this crashed economy!!!

Some seeking US aid worked to avoid taxes - The Boston Globe

Little light reading for you.

 

[del]

where are you getting that information from?

I would say post a link but i know you can't so tell us the website please.

here's one, i'm sure there's others
ABC News: Movement to Scrap 401(k)s Gains Traction

 

[sealybobo]

How about this plan the lefties are floating around to do away with 401 k's, mandate a 5% contribution to a "new" plan administered by the SSA with a guaranteed 3% return. There would be no benefit for employers to do any matching. Watch out for the Obama, Reed Palosi trifecta.

How about we privatize our retirements so the rich can crash the economy right before I retire and renig on half my fucking wealth!

Sorta like they are doing to retirees right now.

 

[Andrew2382]

House Democrats Contemplate Abolishing 401(k) Tax Breaks | workforce.com

Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive. .

Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.

The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.

“I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

There is more, I won't link it all

 

[del]

really stupid crap they are resorting to huh?

yeah

 

[del]

I love you neo kooks. Everything you say about Democrats are things you are doing to us yourselves.

If you haven't noticed, your 401K is half!!!!

mine isn't. it's down, but half?? you must have some real sharp investment advisor.

So the only thing you could possibly say is that the Democrats will cost us the other half? HA!!!

and that's a good thing because.....?

 

[Ravi]

Wow, they let some woman speak at a hearing and suddenly the sky is falling.

 

[Care4all]

it certainly IS WORTH considering....doesn't mean it will be instituted, but CONSIDERED.

we, those in pensions or 401k's that are in the market, lost $2 TRILLION DOLLARS of retirement funds in just the last month while being invested in the market....

Changing company benefits from a defined pension plan to a 401k plan where we HAVE TO INVEST in a volatile market, pay fees to the investor accts etc...was the BIGGEST GIFT TO WALL STREET, that ever existed in our history, even bigger than the $700 billion dollar bailout.

I am not saying it SHOULD CHANGE, just that we should hear out, other points of view and proposals from all, on any kind of reforms that could make our retirements more secure.

care

 

[Andrew2382]

Noone forces you to do a 401k.

There are other retirement options out there.

The beauty of the 401k is you can put up to the max and the employer matches it and he gets a taxbreak for it, so it's win/win.

Now, you are going to get 3% on you rmoney.

 

[Truthmatters]

scare tactics


Dont think, dont look at all the options.

just curl up and stay right where you are and mutter about how good Bush looks in jeans.

 

[Andrew2382]

lol, it's an awful fucking option why should we look at it.

They want Social Security to run it?

Social Security is in fucking shambles, thats who I want running my retirement portfolio.

 

[Silence]

here's one, i'm sure there's others
ABC News: Movement to Scrap 401(k)s Gains Traction

I don't see where that references Obama or a democrat....

 

[Contessa_Sharra]

where are you getting that information from?

I would say post a link but i know you can't so tell us the website please.

This is some crap that rushy-poo fat-ass is promoting.......

Sounds like one of his oxycontin mind bends........

 

[Silence]

Noone forces you to do a 401k.

There are other retirement options out there.

The beauty of the 401k is you can put up to the max and the employer matches it and he gets a taxbreak for it, so it's win/win.

Now, you are going to get 3% on you rmoney.

the article del provided said it's 3% ABOVE inflation... I assume that makes a difference.

 

[Care4all]

Noone forces you to do a 401k.

There are other retirement options out there.

The beauty of the 401k is you can put up to the max and the employer matches it and he gets a taxbreak for it, so it's win/win.

Now, you are going to get 3% on you rmoney.

you don't know that Andrew....nothing has been done on this, it is a proposal from ONE WOMAN to congress....you don't know if the 5% would not be matched by companies, and you don't know that a deduction for us putting in this 5% would not be tax deductable etc, BECAUSE nothing has been done on this proposal yet and you know when congress considers it, if and when they do, it will fall flat on its face without those kind of measures in it.

This is just scare tactic BUNK, to say the least....imo.

care

 

[Andrew2382]

I posted a link on the plan

 

[del]

I don't see where that references Obama or a democrat....

i never said it did. you asked for info-there it is.