Survey: 84% Would Welcome Fully Automated 401(k) Plans - Bank Investment Consultant

Survey: 84% Would Welcome Fully Automated 401(k) Plans - Bank Investment Consultant: "The Recession has prompted an overwhelming majority of American workers to believe it’s time for a new and improved model for workplace retirement programs, Prudential Financial [PRU] found in a survey.

Prudential’s sixth “Workplace Report on Retirement Planning” found that 84% would embrace a fresh approach to their workplace retirement plans, particularly more “autopilot” features."

Government to fund federal debt through 401K/IRA accounts?

Government to fund federal debt through 401K/IRA accounts?: "'Bloomberg reported Friday that Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Mark Iwry are planning to stage a public comment period before implementing regulations that would require private investors to structure IRA and 401(k) accounts into what could amount to a U.S. Treasury debt-backed government annuity.'"

The Government Wants to Hijack Your 401(k)

The Government Wants to Hijack Your 401(k): "The upshot: The Obama administration has to find other ways sell government debt - without raising interest rates, a move that would almost certainly jeopardize the country's super-weak economic recovery.

Facing an uphill battle and increasingly skeptical buyers, the government is changing tactics and targeting the biggest pile of money available as a means of dealing with its fiscal follies - the $3.6 trillion sitting in U.S. retirement plans, including 401(k) plans."

The Government Wants to Hijack Your 401(k)

The Government Wants to Hijack Your 401(k): "According to widespread media reports, both the U.S. Treasury Department and the Department of Labor plan are planning to stage a public-comment period before implementing regulations that would require U.S. savers to invest portions of their 401(k) savings plans and Individual Retirement Accounts (IRAs) into annuities or other 'steady' payment streams backed by U.S. government bonds."

How Washington Might Change Your 401(k)

How Washington Might Change Your 401(k): "There's always room for improvement -- especially when it comes to your 401(k). After 2008, during which many American workers saw the value of their retirement accounts plunge 40% or more, even these terrific plans could probably benefit from a few reforms. With that in mind, Congress is considering changes to the rules that govern 401(k)s. We've rounded up a few of the ideas they've put on the table thus far."

Obama "Going After Wall Street".. Watch your 401K - Auburn Journal

Obama "Going After Wall Street".. Watch your 401K - Auburn Journal: "Obama is coming for your 401K fund next. Once the crisis in the stock market is clear, he will start talking about a 'NEW Social Security System' where your retirement will be pulled from your check directly (More than the current SSI) and the government will take care of you."

Bloomberg: Obama Administration Looks to Annuities to Improve on 401ks | Benzinga.com

Bloomberg: Obama Administration Looks to Annuities to Improve on 401ks | Benzinga.com: "What is old is new again..."

Government wants to urge you to loan them your 401(k)

Government wants to urge you to loan them your 401(k): "There literally isn’t enough money in the world to float the T-notes the Treasury must issue in order to prop up our unsustainable spending path. There are, however, about $3.6 trillion in funds just sitting in 401(k) accounts. If the government can urge–or force–you to convert your 401(k) into T-note funded annuities, the Treasury can continue to issue those notes to float the government’s deficit. Essentially, you’ll be converting your retirement funds into an IOU from the government…just like your social security account has already done.
This will allow the Treasury to keep borrowing money–from your retirement–in order to keep issuing more debt that they may or may not be able to pay back to you."

Will the Feds Fund Deficits with 401(k)s?

Will the Feds Fund Deficits with 401(k)s?: "The writing is on the wall for retirement assets held in conventional ways. A report last week in Business Week shows that the U.S. Feds have 401(k) assets in their sites."

Pajamas Media � Coming Soon: Substituting Government Annuities for Your 401(k)?

Pajamas Media � Coming Soon: Substituting Government Annuities for Your 401(k)?: "Back around the last Election Day, far-left Congressmen George Miller and Jim McDermott floated the idea of ending the 401(k) tax break in favor of “redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.”

The left has always hated private retirement accounts. First of all, they’re, you know, private, meaning the government doesn’t control them, and we can’t have that. Worse still, people with individual accounts aren’t beholden to a union for their retirement — although what good that does anybody who worked for a company that’s gone broke, for instance Pan Am, is a question never really answered by old-fashioned pension advocates."

WyBlog -- Obama's secret plan to nationalize your 401(k) and IRA

WyBlog -- Obama's secret plan to nationalize your 401(k) and IRA: "Obama's secret plan to nationalize your 401(k) and IRA
What if you woke up tomorrow morning and discovered that your 401(k) or IRA only offered one investment option, and that investment option was U.S. Treasury Bonds? Think it can't happen? Then you don't know how desperate Obama and Geithner are to prop up the Treasury securities market.

In a short conversation this noontime that CNBC apparently has omitted from their archives (Why's that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.

Where would they get this?

From your 401k and IRA accounts!"

Why Is Your 401(k) In Trouble? Because You Don’t Have Time To Read This Post - CBS MoneyWatch.com

Why Is Your 401(k) In Trouble? Because You Don’t Have Time To Read This Post - CBS MoneyWatch.com: "The average American multitasker is way too busy and stressed for DIY retirement investing.� This is not something you can do instead of texting while you’re bumper-to-bumper on the freeway. Talk about safety! What’s at stake? Your life, health, and happiness in the last, oh, 20 to 40 years of your life.

The White House has 401(k) relief high on its priority list for 2010. Among the questions raised: Should the 401(k) itself be retired? Should we have opt-in or opt-out?� Can we go back to the pension model - or something with more security?"

Americans Stand by 401(k) Plans, Survey Says | Retirement | Financial Articles & Investing News | TheStreet.com

Americans Stand by 401(k) Plans, Survey Says | Retirement | Financial Articles & Investing News | TheStreet.com: "Despite the recession that started in late 2007 and continued through most of 2009, Americans still have confidence in their retirement plans and investment options, according to a recent survey by the Investment Company Institute (ICI).
The ICI, the trade group of the money management industry, surveyed 3,000 households and found that, among households expressing an opinion about retirement plans, 90% had a favorable view. The organization's survey comes as the Obama administration discusses ways to encourage people to shift from 401(k) to annuities so that they don't outlive their retirement savings. The ICI opposes the notion, which could hurt revenue at mutual fund companies."

InvestorCentric: Could The Government Take Away Individual Control of 401(k) Savings?

InvestorCentric: Could The Government Take Away Individual Control of 401(k) Savings?: "A government proposal would take away some control of 401(k) by requiring retirees to convert some of their savings to annuities although 70% of US households oppose it. Whether this controversial plan would give retirees the hoped for security is however doubtful. See the following post from Expected Returns."

Americans Oppose Proposals to Limit 401(k)s, ICI Says at The Catherine Austin Fitts Blog

Americans Oppose Proposals to Limit 401(k)s, ICI Says at The Catherine Austin Fitts Blog: "U.S. investors oppose federal initiatives that would force them to give up control over their 401(k) accounts, the Investment Company Institute said.

Seven in 10 U.S. households object to the idea of the government requiring retirees to convert part of their savings into annuities guaranteeing lifetime payments, according to an institute-funded report today. The Washington-based institute represents the mutual-fund industry.

“People value the tool of the 401(k),” Paul Schott Stevens, chief executive officer of the institute, said at a news conference in Washington. “They do not want government to take it away from them. They think the structure works very effectively.”"

Obama Administration Wants to Annuitize 401k’s and IRA’s - Mandatory “R Bonds” at The Catherine Austin Fitts Blog

Obama Administration Wants to Annuitize 401k’s and IRA’s - Mandatory “R Bonds” at The Catherine Austin Fitts Blog: "As a rule of thumb, the worst possible time to convert lump sum savings into a fixed income annuity would be when interest rates are historically low.

Although products may vary, this is roughly equivalent to buying long term bonds at a time when interest rates are likely to increase, substantially reducing your principal in real terms, and eroding your fixed returns through inflation.

For some reason the Obama Administration is promoting the idea now that there should be some encouragement for Americans to start converting their 401K’s and IRA’s into annuities, to provide themselves with lifetime income."

401k/IRA’s: Is Confiscation in the Wind? at The Catherine Austin Fitts Blog

401k/IRA’s: Is Confiscation in the Wind? at The Catherine Austin Fitts Blog: "The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.

Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!"

Should annuities be mandatory for 401(k)s? Fund companies go on the offensive - Investment News

Should annuities be mandatory for 401(k)s? Fund companies go on the offensive - Investment News: "Participants in 401(k) plans do not want the government to require them to convert a portion of their 401(k) assets to annuities, according to the results of a survey of about 3,000 households released today by the Investment Company Institute."

Government Wants Retirees to Convert 401 (k) Into Annuities

Government Wants Retirees to Convert 401 (k) Into Annuities: "U.S. investors oppose federal initiatives that would force them to give up control over their 401(k) accounts, the Investment Company Institute said.
Seven in 10 U.S. households object to the idea of the government requiring retirees to convert part of their savings into annuities guaranteeing a steady payment for life, according to an institute-funded report today."