SS Repair

I have a suggestion for the SS overhaul. For starters, Congress should take a look at the retirement aids already in place with a view to improve them. For years now people have put aside money for retirement in Traditional IRA's, 401K pofficers in my area of the world and one thing is very evident...'THEY HAVE PUT CONSIDERABLE MONEY ASIDE FOR RETIREMENT WITHIN SUCH PLANS, BUT 90% OF THEM HAVE LOST SIGHT OF THE FACT THAT THE MONEY THEY HAVE SAVED IS NOT ALL THEIRS PERSONALLY." They also didn't listen very well when I used to write about this problem; e.g. I recently received a call from one of them, now retired, and he stated in part: "I just received notice from the IRS saying that I owe them more than 20 thousand dollars?" I didn't have to ask about it...I knew already what he had done. He had used his 401K-type account to buy a house, but he forgot that the IRS would lay claim to a portion of his retirement account.

So my suggestion is that before starting a revamp of the SS system, the government first conder waiving IRS taxes on the accounts through which people have already put aside money for their retirement. That move alone would give millons of people a boost in their retirement finances.