Washington Goes into 401(k) Withdrawal - CBS MoneyWatch.com

Washington Goes into 401(k) Withdrawal - CBS MoneyWatch.com: "The Obama Administration has decided we are going to make a mess of managing our 401(k)s in retirement and wants to do something about it. Both the Treasury Department and the Labor Department have signaled their 2010 agendas will include taking a look at how to reform the 401(k) withdrawal process to keep us from blowing through our savings too fast.

The Feds are interested in adding an annuity feature to 401(k)s that would throw off a guaranteed monthly income for retirees based on the amount of 401(k) assets a retiree converts into the annuity.

Given the well documented problems we have had managing our accounts while we are working — in large part due to poorly designed plans foisted on us — it’s a reasonable concern that we won’t be able to get the decumulation phase right either."