Jude 2

Eyeing Your Pension
Are 401(k)s safe from congressional Democrats?
http://online.wsj.com/article/SB122477680834462659.html

If you have a 401(k) or equivalent retirement plan, you've probably been watching nervously the past few weeks as your nest egg has shrunken owing to the current turmoil in the markets.

Well, it could be worse. But don't take heart, for what we mean is it could get worse. The market turmoil has some politicians on Capitol Hill eyeing the end of the 401(k) as we know it. Workforce Management reports on a hearing of the House Education and Labor Committee earlier this month:

My husband and I have always watched breathlessly, since he is an engineer for the U.S. Army (civilian). We participate in the Thrift Savings Plan, similar to a 401k, it replaced the old civil servant retirement plan. However, every year congress wants to use that money that government employees have put in and managed on their own, for more government programs. I am so ready for them to get out of my pocket book!!!!

Jinjer