CFP Running for Congress Seeks Universal Nationalized Retirement Plan

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Oh HELL no!

CFP congressional hopeful seeks 'financial plan for America' | Financial Planning

ONE SINGLE RETIREMENT PLAN

Retirement planning is a core issue that Millard has identified in his congressional campaign, declaring on his website that "the retirement crisis is the biggest problem in this country not being talked about." He warns that the current "alphabet soup" of retirement plans — 401(k) plans, 403(b) plans, Simple IRAs and the like — is confusing and poorly serves middle-income savers.

"I would like to see a single, simple, unified, universal retirement savings plan that everyone can participate in," he says, promising to introduce legislation to that end if elected. Such a plan would be easily transferable as workers change jobs. Companies would have the option to set their matching terms under Millard's proposal, which would create a market environment in which job seekers could evaluate prospective employers partly on the attributes of their retirement programs.

At the same time, Millard acknowledges that, by design, his plan is not yet "fully formed." He is not looking to barnstorm Capitol Hill as a freshman congressman with a ready-made agenda. If elected, he says, he would start in listening mode, working through committee assignments with more tenured members of the chamber — on both sides of the aisle — to build coalitions and translate his ideas into legislative action.

A strong supporter of the Department of Labor's fiduciary rule now under fire from congressional Republicans, Millard says he might support legislation to empower the SEC to collect user fees to fund a more rigorous examination regime for investment advisers.

I'm sure that if you wanted to keep your advisor, you'd be allowed to?

There is a wide assortment of various retirement plans for various businesses that can fit their needs. The last thing I want to see is MORE regulation or consolidation of retirement planning by the U.S. Government, ERISA, and/or the IRS.
 
Oh HELL no!

CFP congressional hopeful seeks 'financial plan for America' | Financial Planning

I'm sure that if you wanted to keep your advisor, you'd be allowed to?

There is a wide assortment of various retirement plans for various businesses that can fit their needs. The last thing I want to see is MORE regulation or consolidation of retirement planning by the U.S. Government, ERISA, and/or the IRS.

He sounds like a politician his message is you need to keep reelecting me because this will take time.
 
If the government would come up with a way to take some money from each of our pay checks every week for our entire working life and then start paying us back out of it when we retire like at age 62 for example, that might work. They could let the money build up all those years and it would never be short because of the interest and many people die early in retirement so the funding would be solid as a rock.
 
What it sounds like is what our own govt taught the Chilean govt many years ago - deduct money from each person's pay check to pay for their eventual retirement. The Chileans put it in place and never looked back.

Why we didn't take our own advice is a testament to long-held BOGUS beliefs that what's not broken shouldn't be tampered with - DESPITE proof to the contrary. :1arghh:
 
What it sounds like is what our own govt taught the Chilean govt many years ago - deduct money from each person's pay check to pay for their eventual retirement. The Chileans put it in place and never looked back.

Why we didn't take our own advice is a testament to long-held BOGUS beliefs that what's not broken shouldn't be tampered with - DESPITE proof to the contrary. :1arghh:


Our government already has a plan in place called social security. Sadly, like most most governments(politicians), they raided the coffers and spent money that was not theirs. The last thing we need is government types getting their hands on more of our hard earned money. I
 
Not likely to pass, and hard to make a plan that would be cost effective. We do have costs for those with little or no savings. This could actually be a net benefit for those who may not be the clients of independent insurance agents for retirement planning anyway, and for taxpayers who wouldn't be paying as much for services to the poor elderly.
 
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