The Department of Labor has issued a "request for comment" on what they can do to encourage more people to annuitize their 401(k)s, rather than actively managing personal investments. The responses are due out soon, and somehow Republicans have turned this into a worry that Democrats are plotting to get their hands on our retirement savings.
I've read the RFC in question, and I don't see that it says anything of the kind. It is true that Argentina used a nominally similar dodge to grab the contents of peoples' retirement accounts, but the situation is rather different than what DOL is suggesting; Argentina folded the private accounts into its bankrupt public pension scheme in order to temporarily shore up the finances of the latter. DOL is simply saying it wants to encourage people to take a big hunk of cash out of their 401(k)s and buy annuities with it.
Now, this is not, to my mind, a very good idea. The bureaucrats at Labor are very worried that people are bearing too much investment risk, which looks bad right now. But of course, you cannot actually get away from investment risk by buying an annuity, because the insurance company or other financial firm who sells it to you also bears investment risk, and if the market doesn't perform, it will have difficulty making your annuity payments.