UPDATE: The Demise of 401k Accounts and IRAs
Democrats Target 401k and IRA Retirement Accounts
With a GRA [Guaranteed Retirement Account], workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.
Read More...
Source: Right Side News
Note: Hearings on this proposal are in progress with the House Committee on Education and Labor, chaired by Rep. George Miller, D-Calif.
With a GRA [Guaranteed Retirement Account], workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.
Read More...
Source: Right Side News
Note: Hearings on this proposal are in progress with the House Committee on Education and Labor, chaired by Rep. George Miller, D-Calif.
posted by Kathy at 11/11/2008 06:17:00 PM
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