1. United States
2. N.C.
3. Letter

Many Americans in this new generation will not have a pension when they retire. They’ve been saving diligently to their 401(k) plans for many many years. The one drawback to the 401(k) plans is that you are not allowed to rollover a 401(k) plan while you’re still employed with him employer. Many insurance companies provide pension like products with guaranteed growth and guaranteed payouts that US citizens can only take advantage of if they have an old 401(k), or leave their current employer. It’s not fair. This limitation put handcuffs on what employees are allowed to do if their companies do not offer pension protection. Starting at age 50, we should allow employees to rollover a 401(k), without penalty - while they’re still employed with their employer to take advantage of pension like products when their company does not offer pensions. This would provide income security for employees in retirement that a normal 401(k) plan could not provide.