Congress Is Coming After Your 401(k) 

sentinelblog

Source: BanyanHill.com, by Ted Bauman

How do I despise thee, O Congress? Let me count the ways.

Don’t take my word for it: 75% of Americans disapprove of the job our representatives are doing. It’s things like this that explain why:

Whilst only about 13% of U.S. employees nationwide enjoy a retirement fund that assures stable, lifelong income, all 535 members of Congress do … courtesy of Uncle Sam.

Members of Congress participate in the Federal Employees Retirement System, which provides pension benefits of which most American workers can only dream.

Private retirement savers often pay management fees that can exceed 1% annually on lousy investment choices. Members of Congress pay a maximum of 0.039% for funds guaranteed to match the market.

A proposal floating around in Republican circles in Washington would add insult to injury: They want to end the tax-deductibility of your pension contributions so they can give…

View original post 301 more words

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