Third Way wants to kill your company match to your 401k

[Exilednight]

Turd-Way wants to kill your company match to your 401k by replacing it with a 50 cent raise to take its place.

How it currently works: if you make $20/hr (this is actually less than the median wage) and you max out your 401k company match, somewhere around 3% to 4%, I will use 3% to be conservative in my numbers, you currently save a total of $1.20 per hour worked. (60 cents you contribute and 60 cents your company contributes)

Third-Way wants to mandate that employers give you a 50 cent raise that goes directly into a "pension" account, but in reality is nothing but a watered down 401k.

Why would any major employer NOT want this. They're saving 10 cents per hour per employee, while you're losing 70 cents per hour towards your retirement.

CEOs and corporate officers will maintain their benefit package, but will eagerly cut yours.

Edit to add link:
http://www.thirdway.org/op-ed/capitalize-workers

[Agschmid]

1. Is there a link?

Or do you just have a feeling about this?

[Exilednight]

2. Just added. Working on phone so I couldn't close the window to copy link.

[pampango]

3. That link shows 3rd Way endorsing a higher minimum wage and a minimum pension, as well.

Is that the right link?

[Exilednight]

4. Yes, but the minimum pension would reach your 401k program, if you have one.