U.S. Treasury and Labor Departments looking to convert IRAs & pensions to Govt. annuities

The U.S. Treasury and Labor Departments are looking to convert private IRAs & pensions into government  annuities. The idea is to convert the accounts to investing in U.S. Treasury bonds. Realistically, the Legislature will make the money available to pay the government debt; just like they did with the Social Security monies. And we're all being told not to expect Social Security to pay us upon our retirement...

There is “a tremendous amount of interest in the White House” in retirement-security initiatives, according to Assistant Labor Secretary Phyllis C. Borzi.

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” __ Thomas Jefferson

Here are links to three different articles on the subject:

http://www.bloomberg.com/apps/news?pid=20603037&sid=aHFCE999fWR0

http://relistr.com/real-estate/us-treasury-plans-to-change-your-401k-and-ira-into-annuities.html

http://biggovernment.com/jarenas/2010/03/09/the-united-states-of-argentina-obamas-pension-grab/

Stand up and give voice to your representatives in Washington or live with the results. If you do not tell them otherwise, your representatives will believe you agree with them... may be you do.