Could We Lose Our Private Retirement Plans?

This has not widely been reported on, but Bloomberg has an article by Zolton Simon reporting on an ultimatum that Hungary has given its citizens: move your private-pension fund assets to the state or lose your state pension.

That's a huge deal for citizens in Hungary.  They either let the state take it or they lose 70% of their own retirement funds!

Argentina also confiscated pension funds in 2001 to help cover its massive debt. 

Did you know that there are those in the U.S. Congress that have actually had discussions on our private 401k plans?  CNBC reported in 2008 titled "Will Democrats Tinker With Mutual Funds, 401k Plans?" The topic has been on the table even before President Obama took office!

Remember that 401k's defer taxes that our government needs so very badly.