Government begins to creep into your 401K....

http://nypost.com/2015/02/28/white-house-looking-to-creep-into-401ks/

It’s all about control. It’s your money, America. The system functions quite well. Adding more pages of red tape will not improve performance, but it just may get your broker to drop your account, just as many credit lines were closed after Dodd-Frank passed.

Many on Wall Street and non-political economists feel one of the things holding back our economy is the ever-increasing creep of socialism and added regulation into our finances.

Just look at the mandated, innocuous-sounding Affordable Care Act, a k a ObamaCare. At its passage in 2010, we were promised a savings of $2,500 per family.

Well, look what happened. The average annual cost of a health insurance premium for family coverage was $13,770 in 2010; in 2014, it was $16,834, according to the Kaiser Family Foundation. That’s a 22.25 percent increase in four years.

Additionally, the average deductible for single coverage jumped from $917 to $1,217, an increase of 32.71 percent. And out-of-pocket prescription costs and co-pays rose as well.

One of obama's main advisors is cass sunstein. He wrote a book called "nudge" that blueprints the way that govt policy can manipulate the private sector. I would guess that the end here is that the govt wants to "protect" the populace by gaining more control over what was previously exempt to many of the govt controls. Remember when savings accounts were an important part of security and planning?

Yes I remember real good interest paid on a savings account......that was over long ago.

TEOTWAWKI wrote:

Yes I remember real   good interest paid on a savings account......that was over long ago.

Aren't savings account interests tied to the prime rate (currently 3.25%)?

I'm surely not a financial wizard, but when interest rates were double digits, banks could make loans at higher interest rates and pay higher rates on accounts.

http://www.gobankingrates.com/savings-account/what-average-savings-account-interest-rate/

Throughout the entire industry, however, the national average savings interest rate is only 0.17%.