Retirement Plans

Just a FYI here, (but I find this alarming) , according to the Business Week article (link below) the government has floated a request for public comment on converting 401Ks and IRAs to annuities (ie you would surrender your 401K or IRA to the government in lieu of a monthly annuity check).

Normally I would dismiss this as urban legend, but the powers at be appear to be in such a panic to raise revenues, it smacks of reality.

Suggest that if you communicate with your elected representatives in Washington, that you voice your displeasure of this .

The actual Federal request for comment is the at the link at the bottom.


http://www.businessweek.com/investor/content/jan2010/pi2010018_130737.htm


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