...the AFL-CIO, the Economic Policy Institute, the National Committee to Preserve Social Security and Medicare, the Pension Rights Center, and the Service Employees International Union.
Stroll around the web site and you'll see that the premise is that Americans don't save enough for retirement and some 401(k) providers are bad. As with health care, any flaw in the system is an excuse for a complete government takeover. So their solutions generally revolve around scrappng 401(k)s and forcibly taking money from your paycheck to put into Treasuries.
What to do when China doesn't want buy Treasuries to fund Obama's massive deficits any more? I know! Let's force working suckers to buy Treasuries!
Some of the more aggressive proposals would not only end 401(k)s going forward, but forceably convert existing 401(k) balances to government "annuities" (i.e. Treasuries).
BusinessWeek reports that the Treasury and Labor Departments are already working on this:
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
JDA and Denninger are on this too, and Skeptical CPA has been all over this for some time.