This is exactly the same thing Johnson did with Social Security, which in theory, was a group savings account. Deduction was simple, they just take it out with your taxes, and the entire working population as one group would get better bank deals than any sub group could dream of. This was to be a TRUST FUND, with the Government acting as the Directors and investing OUR money. Johnson took the money OUT OF the TRUST FUND, to fund his "Great America" program which has lead to a general decline in our society. Johnson is a Liberal "Statesman".
Jimmy Hoffa diverted Teamsters pension fund money to his Mafia buddies funding Las Vegas, He was being paid back quite well. He went to Prison. (and got whacked )
Berny Maddof, who made $50 billion disappear is being investigated by a Congress that made $1.5 Trillion disappear ?
Our Governor up here is trying to do the same thing with the account for Mal Practice insurance.
If you or I did that it would be "Theft", but it's different if your "Progressive", then it's called "Redistributing the wealth".