<< <i>Once over 50% of voters are living off of the government (and those that pay for government), politicians could care less what the minority taxpayers think. This is the basis of the socialist agenda. When the takers outnumber the givers, the takers will get more when they scream "give us more." The socialists' downfall will be when there are no more givers, only takers. >>
<< "Same with your 401K. It is just a liability on your company's balance sheet. They go bankrupt and you get to stand in line with the rest of the creditors hoping to get a piece of pie that is left. Generally, it is just crumbs"
Actually, that's not correct. In general, a corporate bankrupcty will have no impact on your 401k funds, as they are segregated funds.
If your 401k has an option to invest in your company's stock , and your company goes under, that is a different situation. >>
Correct. Only the non vested portion of your companies matching contribution would you lose out on. MJ
That's not my experience. My company went bankrupt (ch 11) in 2001 and I lost the entire portion of my company stock in the 401K plan....$55,000. I was fully vested. When the stock was trading on the pinks for months afterwards I joked that my 5,000 shares were worth the price of 2 large pizzas. I should have taken the pizzas! When the company reorganized within 2 yrs I didn't even get the 2 pizzas. Half of that $55K was put in by me. Wasn't a total loss as they created some incentive plans to keep certain people from leaving the company during the reorganization. So I did sorta get back my lost investment, but not the company matching.
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
401(k) plan assets are not subject to being taken by creditors in a bankruptcy -- regardless of whether it is you or your company that is going bankrupt. Those monies are set aside in a separate trust fund overseen by a third party trustee. Of course, if you invest your retirement funds in a stock whose market value goes to zero - such as Enron - there's nothing the trustee can do to help you then.
Going back to the opening post, that doesn't mean the government can't think of ways to tax or restructure these accounts to get their hands on some of the money. 401(k) plans are a creature of federal tax law -- even the name refers to the section of the Internal Revenue Code that allowed for the creation of these plans.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
after doing a little reading from a contributor at the American Bankruptcy Institute...yes it's slow this evening...
The GM bankruptcy used the ....drum roll..."MELTING ICE CUBE THEORY"---you 've got to love it---- and wiped out several Indiana State Pension funds assets that were senior to other creditors.
Those pension funds were senior bond holders in GM's financial structure. The bonds were security for several pension funds, consequently..the Government can sieze your retirement.
If it deems it necessary
IMHO, it's just a matter of time not IF but WHEN. The've already set precedent. And SCOTUS agreed.
Unfunded pensions and raiding pensions are two different stories. Every state has unfunded pensions. Where is the story stating Indiana is raiding pension funds?
RR, that's the caveat. A lot of plans don't have company stock as a matching component. Especially if they are private. They issue cash instead to buy the funds you designate. Funds as secondrepublic pointed out are kept by a custodian/trustee. His analysis I believe is spot on. They are indeed segregated. Only the non vested matching contribution by the company you would lose out on above portrait.
True, if you had company stock as part of the matching component and they went chapter then one would suffer in that scenerio. I'm so sorry that it happened to you. Sucks big time. Trust me, that pizza would not have tasted good anyways.
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
One way to reduce the number of future recipients in the plan is to reduce the number of hires now. At least the state has the authority to try to raise taxes to fund future liabilities. Someone like GM with unfunded pension liabilities can't do that if they go belly up. I don't know if Guvmints will ever just take from the public, but it wouldn't surprise me to see creative ways to entice folks [ala the Roth IRA] to cough up some of those tax obligations early or put limits on retirement plans.
They can't get away with taking your savings all at once.
Does anyone around here disagree that they are devaluing the dollar and hence 'taking' your savings by about 10% this year?
The Government is NOT promoting a stable currency and if you are not 'making' at least 10% on your savings...you are losing money.
Streeter, they will come right back to tax that 10% "gain" you made due to currency devaluation. Just like the tax on precious metals "gains", even though the metals themselves just sat there the whole time.
Those pension funds were senior bond holders in GM's financial structure. The bonds were security for several pension funds, consequently..the Government can sieze your retirement.
Especially if it is to reward one voting block by stealing from a different voting block. The government violated decades of bankruptcy law precedents in bailing out GM's union pensions with bondholder money.
Q: Are You Printing Money? Bernanke: Not Literally
Some people have already and even more are rapidly becoming nearly independant of a bank except for basic services. Credit is basically legalized heroin. There is so much wealth in this country in 2011 that wasn't here in the 50's-80's that it is possible and maybe even smart to operate in an unleveraged situation. It's a concept that was foriegn to me in the 70's and 80's but I now embrace. Eliminating banks is just one more monkey off your back.
This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
After the next stock market bloodbath which is usually accompanied with newsfootage of teary eyed middle aged women and men who've lost a good portion of their retirement owing to said market conditions or having their company retirement 401k's wiped out entirely (cue the Enron videos......zzzzzzzzzzzzzzzzzzzzzzzzzz), the govt. will step in to save the day by exchanging IRAs, 401k's , etc. dollar for dollar with something safe and secure. Indeed! What could be better that US govt. debt instruments? I mean someone is going to have to 'buy' the stuff once the Chinese, Japanese, and Euro-people stop taking it. It's the patriotic thing to do! (or else!)
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
What could be better that US govt. debt instruments?
Indeed. What could be better than trying to get money out of a debt instrument issued on your behalf, owed to yourself? Need a Quick Loan? Write yourself a cheque. Except for the commissions that the New York Branch of the Fed pays to Goldman Sachs to sell the stuff, it's a wash. Now, pay up!
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
cops can walk right into your home at anytime of the day or night with or without cause.
Logic tells me that anarchy rules in Indiana if the court can override the Constitution and the Magna Carta. It means that you better not depend on "the law", because there is none.
Q: Are You Printing Money? Bernanke: Not Literally
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
I could be wrong, won't be the first time. >>
GM bankruptcy was less cost to the taxpayers by letting the union take over pension liability in exchange for equity. Just like when the govenment takes over a failing bank, case law means nothing...it's what is least cost and risk to the taxpayers.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
You can't shoot or beat up a cop for entering your home wrongfully, since it might be an honest mistake. You can still sue the police for unlawful entry.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
You can't shoot or beat up a cop for entering your home wrongfully, since it might be an honest mistake. You can still sue the police for unlawful entry. >>
If they are plain clothes, how can you be sure it isn't a home invasion?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
I could be wrong, won't be the first time. >>
GM bankruptcy was less cost to the taxpayers by letting the union take over pension liability in exchange for equity. Just like when the govenment takes over a failing bank, case law means nothing...it's what is least cost and risk to the taxpayers. >>
Frank, good answer but you may have misinterpreted my remark. What got wiped out were senior debentures, not pension funds. The bonds were collateral for investments in GM and had SENIORITY over other security. Those bonds were held by ...if memory serves....police and fire pension funds in the state of Indiana. Bonds secured under UCC statutes and had priority over ALL other security except property taxes. Bondholders are first in line for the private sector. At least I thought I learned that in business school. WTH, it's been awhile, things change. I used to get my news from newspapers too.
The new IN Law regarding police being able to walk into any home at any time of the day or night has sparked quite a debate in the circles of people I talk with. We all basicaly are saying the same thing. If someone is coming into my home in the dead of the night, it is my DUTY to protect my family. I WILL shoot first and ask questions later. I can see cops being shot at alot more because of this Law that strips IN residents of one of their most basic rights...to defend oneself and property. Sure, if they knock on the door and ask to come in, they will be allowed in. I have absolutely nothing to hide. But I can see how this Law could be used not for its intended reason by Law enforcement. To not have to have a search warrant doesn't bother me. It's the act of being able to walk into my home at any given time, day or night, whether I am here or not here, without me willingly letting them in or being informed of them coming in if I am not home, is what I have a major problem with.
To forgive is to free a prisoner, and to discover that prisoner was you.
A police officer would have to be a damn fool to enter a private residence without announcing his presence. Most police are not fools
but the Law gives them the right to...as I have a right to have a weapon in my home and to defend my family and property. Does one cancel the other out? That's why I and many others I've spoken to about this say, ask questions later.
To forgive is to free a prisoner, and to discover that prisoner was you.
Wow, this went off the rails completely. Big sursprise. That hardly ever happens in this forum
Back to the 401K issue-----------I think it would be reasonable to expect that somewhere along the way there would be changes made to the rules. It would probably be unreasonable to assume there would be wholesale changes or none at all...........MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
After they raid all the public pensions, private will be next. A state of emergency will be declared giving Congress and the Treasury that power. There will be no check or balances between the Judicial and Legislative Branches. Though illegal, the Supreme Court will have no say. Desperate times require desperate measures. Increasing the debt limit is pointless, you can raise it to infinity. We are still broke.
I had a small business back in the 80's and 90's. Back then, all small businesses were masters at making a hundred buks look like a thousand. Back then, before digibuks, we could kite checks and keep them up for weeks with simple tricks like tearing the bank routing number ever so slightly, "forgetting" to sign the check, things like that. When you had a business and you were desperate for cash, there were ways to manage the chaos. You could kite a check to pay a contractor so you could get paid by the owner for completed work and by the time the contractors check got to the bank you would have it covered with the owners check and if you didn't have it covered you could just get a cash advance on your credit card as long as you had a little freeboard on the account. You wouldn't even have to bay the cc account till 30 days after the next billing cycle. You could get the money spinning so fast that only you knew what money was out, what was due in, and what was in the air.
As I watch the gov doing these things with the accounting, when I see so little cash in the hands of the people, when I see everyone working with digibuks and the US borrowing all we can just to keep the kite up for a few more months, when I see a nation half full of beggers waiting for their check (or in this case, the gov credit card), then I am reminded of the good ol' days. It was a fools game and only a fool can play it well. One day, when I was cashing a business check from one account for deposit into another of my business accounts, my special teller at the bank said to me, when she knew I was kiting, "Money, money, who's got the money?" She is probably long gone by now but the question remains.
Realize that the old saying that a desperate man does desperate deeds is a nursery rhyme when it comes to a business trying to keep afloat, even for a few more months. There are no rules, there are no boundaries, there is only one thing...survival. Doing this at the national level must be like a hundred thousand businesses on steroids but it looks a lot like my old small business. Best of luck out there.
Mhammerman shocking! LOL Not that I have any knowledge of this (cough cough) but I heard that back in those days (70's & 80's), all a small businessman would have to do to buy a couple of days on the 'float' was to rub a magnet on the numbers printed on the bottom of the check, thus demagnetizing the ink on your check and causing the check to be processed by hand as it was not able to be read automatically.
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
Well that sounds different this time. "Halting investments" sounds a bit like they take the contributions and keep them rather than putting them into the underlying funds (I'm pretty sure if a company did this with a 401K plan they'd be in a bit of a pickle).
In previous renditions the gov't had merely 'borrowed' from the money market of the Thrift Savings Plan. I do have the TSP but keep NONE in the money market--partially due to that reason (well that and I don't need money in a money market for a retirement fund..).
If this is what it sounds like I do believe that slippery slope has just gotten started--no more TSP contributions...no match anyway so not that great a deal anyway. It's a shame though.
<<The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program>> Well that makes me feel so much better. My husband is retired, I think it's time for his TSP to get transferred to an IRA. Too bad I'm still on active duty, I can't do that...
Comments
<< <i>
<< <i>I really can't equate people being checked at airport security to the massive confiscation of private holdings. >>
How did Janice put it Yellowkid?
" Freedoms, just another word for nothing left to loose,
Nothing, I mean nothing honey if it ain't free,no no"
And GSA guy, I hate to be a nit picker, it was actually Kris Kristofferson who wrote that song, but nobody sang it like Pearl!!
<< <i>Once over 50% of voters are living off of the government (and those that pay for government), politicians could care less what the minority taxpayers think. This is the basis of the socialist agenda. When the takers outnumber the givers, the takers will get more when they scream "give us more." The socialists' downfall will be when there are no more givers, only takers. >>
Actually, that's not correct. In general, a corporate bankrupcty will have no impact on your 401k funds, as they are segregated funds.
If your 401k has an option to invest in your company's stock , and your company goes under, that is a different situation. >>
Correct. Only the non vested portion of your companies matching contribution would you lose out on. MJ
That's not my experience. My company went bankrupt (ch 11) in 2001 and I lost the entire portion of my company stock in the 401K plan....$55,000. I was fully vested.
When the stock was trading on the pinks for months afterwards I joked that my 5,000 shares were worth the price of 2 large pizzas. I should have
taken the pizzas! When the company reorganized within 2 yrs I didn't even get the 2 pizzas. Half of that $55K was put in by me. Wasn't a total loss as they created some
incentive plans to keep certain people from leaving the company during the reorganization. So I did sorta get back my lost investment, but not the company matching.
roadrunner
Indiana is not trying to raid penson funds. Can you give me info that I can research?
We did, Indiana, just a few days ago, DEFUND Planned Parenthood.
Prolife..... but if a woman wishes an abortion, fine she can pay for it.
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
I could be wrong, won't be the first time.
<< <i>Eagle Eye,
Indiana is not trying to raid penson funds. Can you give me info that I can research?
We did, Indiana, just a few days ago, DEFUND Planned Parenthood.
Prolife..... but if a woman wishes an abortion, fine she can pay for it. >>
I'd like to see the sources on Indiana pension funds too. I'm betting it's just another lie oozing from that pit they call the teachers union.
Going back to the opening post, that doesn't mean the government can't think of ways to tax or restructure these accounts to get their hands on some of the money. 401(k) plans are a creature of federal tax law -- even the name refers to the section of the Internal Revenue Code that allowed for the creation of these plans.
The GM bankruptcy used the ....drum roll..."MELTING ICE CUBE THEORY"---you 've got to love it---- and wiped out several Indiana State Pension funds assets that were senior to other creditors.
Those pension funds were senior bond holders in GM's financial structure. The bonds were security for several pension funds, consequently..the Government can sieze your retirement.
If it deems it necessary
IMHO, it's just a matter of time not IF but WHEN. The've already set precedent. And SCOTUS agreed.
<< <i>Evansville Courier-Press >>
Unfunded pensions and raiding pensions are two different stories. Every state has unfunded pensions. Where is the story stating Indiana is raiding pension funds?
True, if you had company stock as part of the matching component and they went chapter then one would suffer in that scenerio. I'm so sorry that it happened to you. Sucks big time. Trust me, that pizza would not have tasted good anyways.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Evansville Courier-Press >>
One way to reduce the number of future recipients in the plan is to reduce the number of hires now. At least the state has the authority to try to raise taxes to fund future liabilities. Someone like GM with unfunded pension liabilities can't do that if they go belly up. I don't know if Guvmints will ever just take from the public, but it wouldn't surprise me to see creative ways to entice folks [ala the Roth IRA] to cough up some of those tax obligations early or put limits on retirement plans.
Does anyone around here disagree that they are devaluing the dollar and hence 'taking' your savings by about 10% this year?
The Government is NOT promoting a stable currency and if you are not 'making' at least 10% on your savings...you are losing money.
Streeter, they will come right back to tax that 10% "gain" you made due to currency devaluation. Just like the tax on precious metals "gains", even though the metals themselves just sat there the whole time.
Those pension funds were senior bond holders in GM's financial structure. The bonds were security for several pension funds, consequently..the Government can sieze your retirement.
Especially if it is to reward one voting block by stealing from a different voting block. The government violated decades of bankruptcy law precedents in bailing out GM's union pensions with bondholder money.
I knew it would happen.
Some people have already and even more are rapidly becoming nearly independant of a bank except for basic services. Credit is basically legalized heroin. There is so much wealth in this country in 2011 that wasn't here in the 50's-80's that it is possible and maybe even smart to operate in an unleveraged situation. It's a concept that was foriegn to me in the 70's and 80's but I now embrace. Eliminating banks is just one more monkey off your back.
cops can walk right into your home at anytime of the day or night with or without cause.
<< <i>Some people have already and even more are rapidly becoming nearly independent of a bank except for basic services. >>
I think people would be amazed at how many operate that way. And are a lot better off and happier doing it.
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
Indeed. What could be better than trying to get money out of a debt instrument issued on your behalf, owed to yourself? Need a Quick Loan? Write yourself a cheque. Except for the commissions that the New York Branch of the Fed pays to Goldman Sachs to sell the stuff, it's a wash. Now, pay up!
I knew it would happen.
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
cops can walk right into your home at anytime of the day or night with or without cause. >>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
cops can walk right into your home at anytime of the day or night with or without cause.
Logic tells me that anarchy rules in Indiana if the court can override the Constitution and the Magna Carta. It means that you better not depend on "the law", because there is none.
I knew it would happen.
<< <i>Kuch,
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
I could be wrong, won't be the first time. >>
GM bankruptcy was less cost to the taxpayers by letting the union take over pension liability in exchange for equity. Just like when the govenment
takes over a failing bank, case law means nothing...it's what is least cost and risk to the taxpayers.
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
cops can walk right into your home at anytime of the day or night with or without cause. >>
You can't shoot or beat up a cop for entering your home wrongfully, since it might be an honest mistake. You can still
sue the police for unlawful entry.
<< <i>
<< <i>This has nothing to do with a 401k, but it is evidence of how far Govt., all be it State Law, can go now. Really a sad week in IN with a few new Laws taking effect.
cops can walk right into your home at anytime of the day or night with or without cause. >>
You can't shoot or beat up a cop for entering your home wrongfully, since it might be an honest mistake. You can still
sue the police for unlawful entry. >>
If they are plain clothes, how can you be sure it isn't a home invasion?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Kuch,
I thought that several PUBLIC pension funds got zeroed out( and they were senior to the LABOR UNIONS, oh shock) in the GM bankruptcy---because it was to "expedite" the BK...in the words of FEDERAL officials with complete disregard for established case law.
I could be wrong, won't be the first time. >>
GM bankruptcy was less cost to the taxpayers by letting the union take over pension liability in exchange for equity. Just like when the govenment
takes over a failing bank, case law means nothing...it's what is least cost and risk to the taxpayers. >>
Frank, good answer but you may have misinterpreted my remark. What got wiped out were senior debentures, not pension funds. The bonds were collateral for investments in GM and had SENIORITY over other security. Those bonds were held by ...if memory serves....police and fire pension funds in the state of Indiana. Bonds secured under UCC statutes and had priority over ALL other security except property taxes. Bondholders are first in line for the private sector. At least I thought I learned that in business school. WTH, it's been awhile, things change. I used to get my news from newspapers too.
We all basicaly are saying the same thing. If someone is coming into my home in the dead of the night, it is my DUTY to protect my family. I WILL shoot first and ask questions later.
I can see cops being shot at alot more because of this Law that strips IN residents of one of their most basic rights...to defend oneself and property.
Sure, if they knock on the door and ask to come in, they will be allowed in. I have absolutely nothing to hide. But I can see how this Law could be used not for its intended reason by Law enforcement.
To not have to have a search warrant doesn't bother me. It's the act of being able to walk into my home at any given time, day or night, whether I am here or not here, without me willingly letting them in or being informed of them coming in if I am not home, is what I have a major problem with.
A police officer would have to be a damn fool to enter a private residence without announcing his presence. Most police are not fools.
A police officer would have to be a damn fool to enter a private residence without announcing his presence. Most police are not fools
but the Law gives them the right to...as I have a right to have a weapon in my home and to defend my family and property.
Does one cancel the other out? That's why I and many others I've spoken to about this say, ask questions later.
Back to the 401K issue-----------I think it would be reasonable to expect that somewhere along the way there would be changes made to the rules. It would probably be unreasonable to assume there would be wholesale changes or none at all...........MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Box of 20
paid taxes 4-15-2011 gov'y broke 5-16-2011?
Box of 20
As I watch the gov doing these things with the accounting, when I see so little cash in the hands of the people, when I see everyone working with digibuks and the US borrowing all we can just to keep the kite up for a few more months, when I see a nation half full of beggers waiting for their check (or in this case, the gov credit card), then I am reminded of the good ol' days. It was a fools game and only a fool can play it well. One day, when I was cashing a business check from one account for deposit into another of my business accounts, my special teller at the bank said to me, when she knew I was kiting, "Money, money, who's got the money?" She is probably long gone by now but the question remains.
Realize that the old saying that a desperate man does desperate deeds is a nursery rhyme when it comes to a business trying to keep afloat, even for a few more months. There are no rules, there are no boundaries, there is only one thing...survival. Doing this at the national level must be like a hundred thousand businesses on steroids but it looks a lot like my old small business. Best of luck out there.
Got CASH?
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
Box of 20
In previous renditions the gov't had merely 'borrowed' from the money market of the Thrift Savings Plan. I do have the TSP but keep NONE in the money market--partially due to that reason (well that and I don't need money in a money market for a retirement fund..).
If this is what it sounds like I do believe that slippery slope has just gotten started--no more TSP contributions...no match anyway so not that great a deal anyway. It's a shame though.
<<The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program>> Well that makes me feel so much better. My husband is retired, I think it's time for his TSP to get transferred to an IRA. Too bad I'm still on active duty, I can't do that...