tag:blogger.com,1999:blog-229105148153715520.post4151555569607290143..comments2023-10-29T03:04:10.585-06:00Comments on Sylvia Bokor Comments: Government Plans to Loot Your Retirement AccountSylvia Bokorhttp://www.blogger.com/profile/11689374905250957182noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-229105148153715520.post-6711004243327668012010-08-25T20:30:00.134-06:002010-08-25T20:30:00.134-06:00Excellent blog post, Sylvia. (It's Stephanie B...Excellent blog post, Sylvia. (It's Stephanie Bond here - this is my blogger i.d.)<br /><br />I'm in Canada, so am not up to date with every development in the US. What has happened with this proposal? It's not hiding in the ObamaCare bill by chance, is it?AMAIhttps://www.blogger.com/profile/12060366419694280372noreply@blogger.comtag:blogger.com,1999:blog-229105148153715520.post-21061725803462677382010-03-30T12:56:39.885-06:002010-03-30T12:56:39.885-06:00The effect of the government taking our retirement...The effect of the government taking our retirement accounts on savings and our economy is an excellent point. There is another level of attack in this proposal and it is personal, as duffne points out. The major accumulation of assets for Americans today is their retirement accounts, and for those still working, that is primarily their 401(k)s. If the government gets its hands on that savings it will make more Americans dependent upon the government. It will make them less likely to be able to stand independently and resist.<br /><br />We are being attacked on all sides.<br /><br />daffne, it is probably a good idea to withdraw money from your IRA's and other qualified accounts if you can. I would wait until it is clear that the government has acquiared this ability, however. We must keep our eyes open.Unknownhttps://www.blogger.com/profile/13402981352001291282noreply@blogger.comtag:blogger.com,1999:blog-229105148153715520.post-43776084654693862872010-03-10T21:21:11.566-07:002010-03-10T21:21:11.566-07:00“On several levels this is one of the most sweepin...“On several levels this is one of the most sweeping violations of individual rights.”<br /><br />One level you didn’t mention is that many people (including myself) paid into the 401K plan precisely because of various options for withdrawing the money. In my case I thought very carefully about this. If I had had any thought that the government would then change the rules I probably would not have contributed to the plan. You can’t just change the rules in the middle of the game. <br /><br />Its one thing to change the rules for future employees or even future contributions. At least then I could decline any further contributions. It is altogether robbery to disallow people to remove the money already contributed as a lump sum. How is this any different than if the government just started withdrawing money from my private bank account?<br /><br />I wonder if I should just stop contributing and move as much money out as I can before it is too late. <br /><br />“including the advantages and disadvantages of distributing benefits as a lifetime stream of income” <br /><br />But, a lifetime stream of income is already one of the options for my plan as is the lump sum. The only difference is the amount is dependent upon what is contributed. After all it is called a ‘Savings and Investment’ plan not Life Insurance.Anonymousnoreply@blogger.com