Administration Plan to Seize 401(k)s

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In February, the White House released its “Annual Report on the Middle Class” containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options.

The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement -- which lets them off the hook for their collapsing retirement scheme.

And, of course, the Obama administration is eager to accommodate their buddies. Vice President Joe Biden floated the idea again recently...

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