Should 401(k) Retirement Accounts Be Replaced By Goverment Run Ones?

United States
October 24, 2008 6:39pm CST
Congress may consider banning personal 401k accounts and replacing them with government-run accounts. all workers would see 5% of their paychecks deposited into a guaranteed government a account making 3% interest. The government would deposit $600 per year as a match. Contributions to the account would no longer be tax-free. Should personal 401k accounts be replaced by government retirement accounts?
2 responses
@Holv03 (535)
• United States
25 Oct 08
I really think that the 401k account should stay the same because the government shouldn't run our money. They already have control of a lot of things why would they want control of the 401k accounts that we have? If they government replaced the 401k accounts with government retirement accounts I would also take all my money out of my 401k because I wouldn't want the government running my money because they already run enough things and we should be able to keep the 401k retirement accounts that we normally have.
@missybear (11393)
• United States
24 Oct 08
I have a 401k, and if that would happen I would close mine and take my money out. I don't want the government running my money.