Q: I keep hearing that there is some kind of bill being touted by a congresswoman from New York that would “take” all of our Thrift Savings Plan money and everyone’s 401(k) money and put it into the Social Security system without our consent. Is there any truth to this, and if so, what do you think the chances are of this actually happening? Should we be concerned?
A: There has been talk in lawmaking and policy think tanks about this strategy for changing the retirement system. I can’t possibly handicap the odds of such a thing happening, but it is certainly possible, and we should all be concerned!