Tuesday, April 22, 2008

Goverment In The Retirement Business

No silly ... not social security ... Connecticut Democrats are proposing offering a state wide 401k plan ... no, seriously, they are. They say it would fill a need since many small businesses don't offer 401k plans. There apparently is one tiny drawback.

"This bill does not require an employer to match a employee's savings, a key advantage to 401(k) plans."

Ummm ... yet. By the way the Insurance companies and banks are against it. I'm sure. This is a cash cow for them and they know it.. Administrative fees on 401k management are outrageous and managers offer little to investors for their hard earnerd cash.