Discussion in 'The Fire For Effect and Totally Politically Incorr' started by 22WRF, Feb 3, 2010.

  1. 22WRF

    22WRF Well-Known Member

    May 10, 2004
    The Department of Labor and the Department of the Treasury (the "Agencies") are currently reviewing the rules under the Employee Retirement Income Security Act (ERISA) and the plan qualification rules under the Internal Revenue Code (Code) to determine whether, and, if so, how, the Agencies could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored retirement plans and in individual retirement arrangements (IRAs) by facilitating access to, and use of, lifetime income or other arrangements designed to provide a lifetime stream of income after retirement. The purpose of this request for information is to solicit views, suggestions and comments from plan participants, employers and other plan sponsors, plan service providers, and members of the financial community, as well as the general public, on this important issue.

    That's a lot of government-speak
  2. dons2346

    dons2346 Well-Known Member

    "That's a lot of government-speak"

    You got that right. A simpler version would be how are they going to get more of our money

  3. vytoland

    vytoland New Member

    Oct 14, 2008
    this is nuttin new, they already are doing it. once you reach the age of 70 & 1/2 years you are required by big brother to take a manditory distribution from your retirement accounts and then pay taxes on the amount of the distribution.

    then, after you check out for good, what ever is left is taxed again, before it is passed on to your beneficiaries. big brother knows how to keep you in line and still.
  4. Terry_P

    Terry_P New Member

    Mar 23, 2008
    I know there was an idea being floated by Pelosi to tax (steal) IRA's with "excess balances". It created an uproar and then the economy crashed and now no one has excess anything other than anger, except of course the crooked politicans.
  5. Trouble 45-70

    Trouble 45-70 New Member

    I wondered back when the IRAs first came out how they would try to seize our savings.

    I suppose we will soon find out. Our IRAs are about the only cash left in the country.
  6. Willie

    Willie Active Member

    Jul 31, 2003
    And.... as we saw from another post on here,they have thier new shotguns they can use if we get unruly about them stealing our funds. I can't see any need for IRS people to have shotguns. But I guess they do. :mad:
  7. topper

    topper New Member

    Aug 2, 2006
    deep in the woods
    I think I will draw out my IRA in cash and bury it in a fruit jar in the backyard. At least I will have that much when the SHTF. It probably won't be worth much, though, after the government devalues the currency. They always have some trick to get our money. We are nothing but slaves anyway, working to support a over bloated, money hungry, power mad government.
  8. graehaven

    graehaven Well-Known Member

    May 26, 2007
    Rochester, NY
    It's a good enough reason to consider moving a portion of you "money" into precious metals / tangible assets ----- before the fiat currency ("money") becomes worthless.

    I stopped funding my retirement account 3 years ago, when I realized I'm never going to see it anyway. I can't get to it to cash it out either, unless I leave my employer -- which may happen (not by my choice though).

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