Governments Looting Pension Plans

How long will starving governments keep their itchy fingers off your private pension funds? Only as long as they can’t get away with it. And governments are literally getting away with murder these days. Why not your pension money, too?

It happened in Argentina, Hungary, Ireland, and France. Here’s how it will happen in America. After another financial crisis, Congress will “protect” you by requiring managed retirement plans to include X percent of Treasury bonds at a return well below inflation.

Or, perhaps, government(s) will get innovative with pensions like California. Governor Jerry Brown just signed Bill 1234 which creates America’s first state-sponsored and state-managed retirement program for private sector workers. Every private employer with 5 or more workers without an existing employer-sponsored pension plan will automatically deposit 3% of the workers’ income into a government-run retirement plan…

Nota bene: The PTB have already looted Social Security; there is no “trust fund.”

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