by Dave Gonigam
Oy… Here we go again with the “guaranteed retirement accounts.” Or as some people label them, “401(k) confiscation.”
“The Plan That Could Render Your 401(k) Obsolete,” says a headline at the CBS News website.
Ordinarily, we’d pay it no nevermind. But it’s an election year, and it’s possible one or more candidates will warm up to the idea. So we’d better investigate…
Near as we can tell, the idea first got traction during the 2008 presidential election. Your editor wrote about it at the time for The Daily Reckoning website and has been following the proposal’s trajectory ever since.