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Prairie Gates

(5,964 posts)

18. They destroy defined benefits (pensions) in favor of defined contributions (401Ks)

Reply to BumRushDaShow (Original post)

Fri Aug 8, 2025, 09:37 AM

Aug 8

NEXT UP: Then they open up the 401K to the riskiest nonsense imaginable. Then they privatize Social Security and fold it into the risky 401K systems. Next, being "in crypto" in your 401k or 403b plan won't be optional but part of the standard "package."

Never mind that every aspect of what they're removing from the system was meant to mitigate risk so that we don't have tens of millions of seniors with zero assets and no ability to work.

It's really shocking that many of the working class MAGAs aren't up in arms about these Finance Bro friendly policies. Why are these fucking clowns nostalgic for everything other than unions and pensions, which were really some of the only good things for workers of the post-war settlement. They're nostalgic for "trad wives" but not defined benefits plans? Morons.

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Bayard thought crime

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Highlight:

Trump opens the door for private equity and crypto as 401(k) retirement plan options [View all] BumRushDaShow Aug 8 OP

401k's are supposed to be less risky, at least for me. gab13by13 Aug 8 #1

Retirement JBTaurus83 Aug 8 #2

"If it ain't broke, break it." DJ Trump twodogsbarking Aug 8 #3

"If it ain't yours, steal it." ... also Chump FakeNoose Aug 8 #11

and then sue the people who said you stole it twodogsbarking Aug 8 #13

"Investigate" the prosecutors thought crime Aug 8 #27

The crypto boys put Trump back into office in order to steal billions if not trillions Botany Aug 8 #4

True lonely bird Aug 8 #5

Crypto is you give me your real money and in return you get an electronic parking spot 1/100 the size of gnat's ass Botany Aug 8 #6

Would not surprise me in the least lonely bird Aug 8 #23

Crypto is the biggest Ponzi scheme the world has ever seen. Lonestarblue Aug 8 #15

And if you don't think that the Crypto/Tech millionaires and billionaires don't have a lot of their assets in cash in .. Botany Aug 8 #20

How can EOs change existing laws? I just don't believe half of TSF's EOs are legal. sinkingfeeling Aug 8 #7

Majority are not........................ Lovie777 Aug 8 #8

They aren't legal but there's no effective mechanism to resist them. PSPS Aug 8 #9

Federal judges can strike the EOs down, and it's happening slowly FakeNoose Aug 8 #12

Yeah, they aren't in the US Constitution Farmer-Rick Aug 8 #14

E.O.s are *supposed to be* BumRushDaShow Aug 8 #17

When it goes bust then Historic NY Aug 8 #10

NO FUCKING WAY!! My late husband's IRAs are staying right where they are. ProudMNDemocrat Aug 8 #16

They destroy defined benefits (pensions) in favor of defined contributions (401Ks) Prairie Gates Aug 8 #18

They have been brainwashed BumRushDaShow Aug 8 #19

because they are temporally embarrassed radicalleft Aug 8 #22

Oh yeah, let's all... El Mimbreno Aug 8 #21

trump spawn just happen to be in the crypto business now Bayard Aug 8 #24

They aren't smart enough to understand how it all works FakeNoose Aug 8 #28

I don't see many plan committees violating their fiduciary duties by adding these very risky investment options to their beaglelover Aug 8 #25

Your financial advisor has absolute authority over your money and does not have to consult with you on how to invest in2herbs Aug 8 #26

There is no way I would invest even a penny in crypto it's a scam! kimbutgar Aug 8 #29