Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
http://www.workforce.com/section/00/article/25/83/58.php
You had to know that this initiative was coming! I mean, c'mon really, what do
peasants citiziens need with retirement money in the Obama's Marxist-socialist state? Retirement savings are a selfish hoarding of money that should be available to all the poor and needy.....right? If we get stuck with this idiot we really need to rub our fellow citizens noses in the crap they thought they wanted.

Do ya'll remember during the Clinton Administration some female minion floated a one time tax (confiscation) of 1/3 of all IRA's and 401k's? The cycle took about two weeks to float and kill. I've been thinking I would cash mine out now...but then the fall...could kick myself for not jumping out before all of this mess.