In the discussions I have heard that the government would like to get their hands on 401K's. I know that politicians absolutely love those huge fund sources. It is my understanding that Mr. Obama was quite skillful in acquiring large grant funds and managing them and diverting them to his own pet projects, like acorn, so having him as President is really scary on this subject.
The legislators, judges, and college professors all seem to have the very best, iron-clad, untouchable pension plans. I wonder, if they are going to start diverting funds from pension funds, that they might lead by example and give up their pension plans or in the spirit of patriotism take out a lower yearly pension amount.
Of course, in the State of Illinois, many state employees did not have an option for social security and were forced to contribute their share to their State of Illinois Employee Pension fund. The Governor and legislators never seem to remember to place their share of matching funds into the pension fund. The funds were always diverted elsewhere, at the whim of the Governor in the past 6 years. How can the federal government wipe out these funds?
