IRS Retirement Income Security Act

[Ifyouseekay]

They are coming for your retirement accounts...

http://www.dol.gov/federalregister/HtmlDisplay.aspx?DocId=23512&AgencyId=8&DocumentType=1

"SUMMARY: The Department of Labor and the Department of the Treasury
(the ``Agencies'') are currently reviewing the rules under the Employee
Retirement Income Security Act (ERISA) and the plan qualification rules
under the Internal Revenue Code (Code) to determine whether, and, if
so, how, the Agencies could or should enhance, by regulation or
otherwise, the retirement security of participants in employer-
sponsored retirement plans and in individual retirement arrangements
(IRAs) by facilitating access to, and use of, lifetime income or other
arrangements designed to provide a lifetime stream of income after
retirement. The purpose of this request for information is to solicit
views, suggestions and comments from plan participants, employers and
other plan sponsors, plan service providers, and members of the
financial community, as well as the general public, on this important
issue.

DATES: Comments must be submitted on or before May 3, 2010."

[chad]

here's what will happen:

1. all, or a portion of your savings will be rolled in to a new national retirement system. don't worry! your money will be in your account. your payouts will be based on how much they confiscated from you.

2. when you die, it will be like the whole life insurance scam. the government will keep the balance of the outstanding funds you paid in.

3. the money they keep will be used to fund bullshit.

[cigarlover]

No thanks, I'll keep my money and I'll take care of myself.

[Ponce]

Well, I have no complaint because I already collected about twice what I put into it in eight years......I am now 70 and will live to be 132........so........how much more do you think that I will collect?, why hell......they will be sending someone to visit me so that I can have an "accident".