Government taking of pensions/retirement accounts

The US adds a new twist to the latest trend of governments grabbing pension and retirement funds. The US debt ceiling has yet to be raised. As a result, the treasurer has declared that no more contributions will be made to civil service pension funds so that the government can remain operational until August. He is essentially funding the US government with funds from civil service pensions.

I've written here, here, and here about the other variations of government take overs or taxing of pensions.

Here is the trend graphically:

As you can see from the chart, this is not a positive trend for those saving for retirement.

If this trend continues for another 10 years then all, of the approximately 200 governments, will be dipping their hands into the proverbial cookie jar of private pensions and retirement accounts.

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