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>You realize 401k programs at most companies are treated as a pool just like pension funds right? That's false. One of the requirements of a qualified plan u
by someguydave 9y ago
>You realize 401k programs at most companies are treated as a pool just like pension funds right?
That's false. One of the requirements of a qualified plan under section 401 is that the employee has a nonforfeitable right to plan benefits: https://www.irs.gov/retirement-plans/plan-sponsor/401k-plan-qualification-requirements https://www.irs.gov/retirement-plans/plan-sponsor/401k-plan-...
The corporations who tell workers that the corporation can take money out of employer 401k plans without authorization are trying to scare the workers, stop being their patsy.
>The politicians who caused the problem are the ones who want you to blame the workers, stop being their patsy.
The workers should have known that future promises to pay which would drive the government into insolvency were promises made in bad faith. This doesn't absolve the politicians of their sins, but the workers are not innocent lambs either.
- ebbv 9y agoAgain you keep talking like insolvency was inevitable. It wasn’t. It happened because politicians misused the funds. I’m bored of arguing with you though. It serves no purpose because you are just regurgitating right wing talking points.
- someguydave 9y agoAnyone who could count new hires and had access to an actuarial death table would be able to determine the size of the problem, even 30 years ago. I apologize if that kind of thinking is probably boring.