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FactCheck: Government take-overs of 401(k)s?

Is the Obama administration attempting to eliminate private 401(k)s and IRAs and create a “national retirement system”?

FactCheck.org is a nonpartisan, nonprofit "consumer advocate" for voters that aims to reduce the level of deception and confusion in U.S. politics

Q: Is the Obama administration attempting to eliminate private 401(k)s and IRAs and create a “national retirement system”?