Teresa Ghilarducci: The 401(k) Retirement System Has Failed

3% for CPI? Sure!

Hey, if the government wants to issue bonds with a guarantee of 3% over CPI count me in!! That would be a heck of a lot better than current I-Bonds!

I'd probable sell all of my current bonds (34% of my IRA) and grab it.

Regardless, if the government tried, or even seriously talked about, such a take-over it would TOTALY trash the financial and equity markets. Our economy would come to such a screeching halt that it would not likely recover during our lifetime.

Glenn Hansen of IL @ May 04, 2009 13:49:52 PM

George Miller D-ca wants to steal your 401k

April 4, 09 I sent an note to Mr miller. He thinks gov. 401ks would be a better deal not just for the fortunate few. I told him to get up off his ass an go work 30 years in the pa coal fields for his money the way my husband did. I am now a widow in a 72t living off that 401k that I have in cds. I told Mr. Miller if he takes my 401k I have nothing to loose!! Give me back the 300 hundred thousand we put in that crap hole called ssi.

Karen Ross of PA @ Apr 04, 2009 15:12:14 PM

Taxation of 401k Plans

If our Democratic (pronounced Socialist) administration (both Executive and Legislative bodies) attempt to tax our 401k plans before distributions are taken, I would suggest that before they do so, we cash out and invest in Swiss Francs or Euros and pay whatever one-time tax is due. Admittedly, it would be a big chunk of our investment, but it would clearly demonstrate to the administration and Congress that there is no confidence in their ability to provide for the common good and defend our hard-earned retirement plans.

Seymour Broad of OH @ Feb 16, 2009 12:17:37 PM

Socialism at its best

Wow! Ever hear of risk reward. People who invest in a 401k should be aware of the risks and adjust acordingly. I would much prefer that over ANY government option.

Sean of TX @ Feb 02, 2009 23:36:30 PM

GRA are a bad joke

So your going to tax more of my money and 'save' it for me?

Where is all the money you stole from me for my Social Security taxes. It's already gone!

If you steal more money from me with a new GRA tax, the same thing will happen. Congress will raid the fund and nothing will be left.

You are liars, thieves and cheats.

How can you live with yourselves?

End it!

Hagablaga of CA @ Feb 02, 2009 17:12:18 PM

401 K and Defined Pension Plans

Remember back when Bush 1 was president. We had all these highly skilled people telling us to give up your defined pension plans as this would help the corporations and you could put all you money into the 401k ponzi plans. Wan not called that back then.

Now that Iam retired my defined pension plan was terminated so we could start the 401k.

Now my 401k had gone down in value by 65%, thus far.

So I can not expect much from it. Now all I hear from the republicans is tax cuts give more money back to the rich and too hell with the working class.

And forget about CD's they only pat about 00.65%. The cost of living is way about that.

Dont forget the bonus for the hedge fund and bankers. Americans have seen their better days.

The experts have no answer for this.

Ben of MO @ Jan 31, 2009 12:05:27 PM