Yrc People To Stupid To Understand But The Rest Of You Get Involved

[canaryinthemine]

What happens when the government takes your 401k like in Argentina and a few European countries don't tell me it can't happen here?

I'd be more concerned with Wall Street using your 401(k) as a personal piggy bank,....because of no Government regulations protecting defined-contribution "pensions" from predatory business practices........

 

[SAC75]

What happens when the government takes your 401k like in Argentina and a few European countries don't tell me it can't happen here?

I don’t live in Argentina or Europe so I don’t care.

Apparently the government didn’t protect our pension plans very well or we wouldn’t be having this conversation would we? Please explain how I’m wrong?

 

[canaryinthemine]

There are Government protections on defined-benefit pensions through the ERISA Act of 1974.........However, to subvert them, a series of actions have to be taken by Government employees, Congress and the participant representatives (Teamster "leadership"..).....

PBGC insurance has to be...de-funded,.....Congress has to pass Omnibus bills,....Teamster "leadership" has to negotiate sub-standard contracts designed to de-fund pensions......

For a 401(k),.....all Wall Street has to do, is go: "Whoops!,.....There's a "market adjustment".....your retirement account is worth 5% less than it was last week......Sorry,.....market vagaries, you know...."....

 

[SAC75]

There are Government protections on defined-benefit pensions through the ERISA Act of 1974.........However, to subvert them, a series of actions have to be taken by Government employees, Congress and the participant representatives (Teamster "leadership"..).....

PBGC insurance has to be...de-funded,.....Congress has to pass Omnibus bills,....Teamster "leadership" has to negotiate sub-standard contracts designed to de-fund pensions......

For a 401(k),.....all Wall Street has to do, is go: "Whoops!,.....There's a "market adjustment".....your retirement account is worth 5% less than it was last week......Sorry,.....market vagaries, you know...."....

Was just making a point that the government doesn’t care about pensions or 401k’s. I agree with you. I hope the government fixes it but I’m not holding my breath. I would love to retire with some security.