WorldNetDaily
A key labor union ally of the Obama administration has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced into U.S. Treasury debt.
Branding the program “Retirement USA,” the Service Employee International Union, or SEIU, has joined with the AFL-CIO, the Economic Policy Institute, a Washington-based economic left-leaning think tank that receives substantial labor funding and two other left-leaning interest groups, the Pension Rights Center and the National Committee to Preserve Social Security.
Retirement USA promotes the concept that all workers in the U.S. have a right to a government account that would fund a secure retirement in addition to Social Security and private workplace programs such as the 401(k).
“Our goal is to involve all workers and all employees in a government-mandated retirement program, with the government putting up the difference for lower-paid employees,” Nancy Hwa, a spokewoman for the participating Pension Rights Center…
No user commented in " Obama ally targets your 401(k) dollars – Trillions in IRA funds could be forced into U.S. Treasury debt "
Follow-up comment rss or Leave a Trackback