Pension Plan Limitations for 2011 Announced

Pension Plan Limitations for 2011 Announced: "The Internal Revenue Service (IRS) has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2011 tax year. By and large, the limits will either be unchanged, or the inflation adjustments for 2011 will be small."

Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs , page 3

Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs , page 3: "The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers’ retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration."