Republicans Sound Alarm on Administration Plan to Seize 401(k)s - HUMAN EVENTS

Republicans Sound Alarm on Administration Plan to Seize 401(k)s - HUMAN EVENTS: "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.

Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report.�"