Saturday , 18 November 2017


U.S. Gov’t May Want to “Help” You Manage Your Retirement Account! Really?

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When the government runs out of money, or they face a drying up in interest for its debt, they will come for the $19.4 trillion in Americans’ retirement accounts.  It seems that day may be finally drawing near.

So writes Michael Krieger (http://libertyblitzkrieg.com) in edited excerpts from his original article* entitled It’s Coming:  The Government Wants to “Help Manage” Retirement Accounts.

This article is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
[Make sure you also read these other articles on the subject of possible future government involvement in your retirement accounts:

Krieger provides the following excerpts from Bloomberg [Full article here]:

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings [of which $3.5 trillion of that was in 401(k) plans], a move that would be the agency’s first foray into consumer investments….

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

The Securities and Exchange Commission and the Department of Labor are the main regulators of U.S. retirement savings vehicles and funds. However, the consumer bureau — established by the 2010 Dodd-Frank Act — sees itself as a potential catalyst for promoting a coherent policy across the government, the people said.

[Interestingly,] The retirement savings industry generally has little to do with the CFPB because the SEC is the main investment regulator, said Ianthe Zabel, an ICI spokeswoman.

Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.

*http://libertyblitzkrieg.com/2013/02/02/its-coming-the-government-wants-to-help-manage-retirement-accounts/

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