Sen. Kohl says 401(k) debit card is a bad idea

Staff

At a hearing on retirement savings, Senator Herbert Kohl (D-Wisc.) says that using 401(k) debit card is a bad idea. Kohl points out that it implies it is alright to use one’s retirement savings for everyday purposes. will diminish savings. In addition to being a gross distortion of plan’s intended use, Kohl notes the high fees plan charged to participants and says this will reduce savings when Americans retire. (0:52)

[?]
Share This
 
icon for podpress  Standard Podcast [0:52m]: Play Now | Play in Popup | Download

July 16, 2008
« Sen. Smith says these are ‘tough times for American families’
Veteran care has improved since beginning of Iraq War »
You can leave a response, or trackback from your own site.

Leave a Reply

Categories

Related


Latest Audio

  • Investments made in infrastructure cannot be outsourced
     
    icon for podpress Play Now
  • $1 billion investment in public transportation yields 20,000 jobs
     
    icon for podpress Play Now
  • Dodd blames CEOs for auto industry’s failures
     
    icon for podpress Play Now
  • Obama’s attorney general must withdraw torture memos
     
    icon for podpress Play Now

Happening Now - TRNS on Twitter

  • @jtamboli: Barney Frank speaks with so many tangents that it's impossible to pull out a soundbite. Maybe that's intentional.. -- 15 hours ago
  • @jtamboli: Hah. Barney Franks points out no one called for bailout of Circuit City. They only bailout when there's a risk to economy as a whole.. -- 19 hours ago
  • @jtamboli: Unsurprisingly, Sen. Levin (D-Mich.) says failure of auto industry would be (quoting Obama) "disaster for the entire economy".. -- 19 hours ago
  • @jtamboli: Car company CEOs are on the Hill again—today in front of Barney Frank's committee.. -- 19 hours ago

Close
E-mail It