Teresa Ghilarducci: The 401(k) Retirement System Has Failed

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Funny, when a Government run plan doesn't work, only a fool, er, liberal would suggest creating a second one. We have a government run plan it's called Social Security and it's running out of money. So what do liberal suggest? Fix Social Security? No, create higher taxes on those that save.
This idea has lost traction now that the Dow rose from 8000s to 11,000+. Only a fool sells in a fight of panic.

coops2001 of NJ 3:43PM April 13, 2010

The government knows best when it comes to your kids, life and money. Keep moving, nothing to see here.

Mialanda Jamilia of OH 2:06PM March 25, 2010

She fits right in with his Socialist agenda. Get rid of these people in November!

paul of GA 3:09PM March 11, 2010

Keep your #$%$^$^ fingers off my 401K. I already pay (paid and paid) taxes.
After losing my job, the 401K nest egg is allowing me to start a business and keep it running. It is the only liquid funds I have. I voluntarily put the money in, employer match was negotiated by my union. The government needs to stay the #$&&$% FU#%^K away from my 401K.
If the lazy, wellfare using, wal-mart carnies want a retirement, they should have gotten a good education, got a job, ans stayed off meth. Now that he beach party is over, they want the same things I have worked for. F%&K em.

Chad of NC 7:49AM February 14, 2010

I hope someone stops this person. She wants the government to take my last dollar. I hope she loses all of hers too. Or maybe she's getting paid to state her position.

Sick of GA 1:05PM January 24, 2010

I think she does a much more convincing job describing her proposal in this video http://www.annuitydigest.com/blog/tom/teresa-ghilarducci-pension-reform

Dave of CA 2:43AM January 03, 2010

Karen,
Thank the government for the very idea that you are entitled (you heard me right) entitled to "retire" at all. Before FDR and "Big Government" created the "crap hole called ssi" old people from impoverished, working class backgrounds -- like yourself -- were expected to work until they died -- at age 55. Your lack of charity is really crass ingratitude.

Zach of NY 5:06AM December 22, 2009

She is certainly a shill positioned by the government to espouse these "ideas" in order to convince the public these ideas will benefit everyone.
She has also proposed previously that the US government should "manage" (i.e., take control of) our 401k plans to "prevent" abuses/mal-investment. I believe Venezuela did the same thing...basically stole everyone's hard-earned savings in order to bailout the government and their deficits.
Anyone who believes the "3% above inflation" return is good should really open their eyes and analyze the facts. The US government consistently UNDER-REPORTS the inflation rate so that the public does not become concerned. The government-reported Consumer Price Index (CPI), which supposedly tracks the "inflation rate" in the US based on the price changes of a basket of goods/services, conveniently does not include the price changes of the two most important products that the public purchases and relies on - food and oil!
Therefore, while the REAL inflation rate is surging at ~10%, the government only claims it is 2%....this means your purchasing power has in reality decreased by 10%. And if the government only gives you 3% return above their fake inflation rate of 2%...your "real" return is actually minus 5% since inflation is growing much faster than the return on your investment.
Don't believe the hype...I guarantee you that the government will not be able to solve our retirement system's flaws. The public will simply have to live WITHIN their means and get used to a lower standard of living.

Free Thinker of NY 4:43PM August 02, 2009

Hey, if the government wants to issue bonds with a guarantee of 3% over CPI count me in!! That would be a heck of a lot better than current I-Bonds!
I'd probable sell all of my current bonds (34% of my IRA) and grab it.
Regardless, if the government tried, or even seriously talked about, such a take-over it would TOTALY trash the financial and equity markets. Our economy would come to such a screeching halt that it would not likely recover during our lifetime.

Glenn Hansen of IL 1:49PM May 04, 2009

April 4, 09 I sent an note to Mr miller. He thinks gov. 401ks would be a better deal not just for the fortunate few. I told him to get up off his ass an go work 30 years in the pa coal fields for his money the way my husband did. I am now a widow in a 72t living off that 401k that I have in cds. I told Mr. Miller if he takes my 401k I have nothing to loose!! Give me back the 300 hundred thousand we put in that crap hole called ssi.

Karen Ross of PA 3:12PM April 04, 2009