Bush savings plans still alive

And the brand new IDAs would create accounts with dollar-for-dollar matching contributions targeted at low-income individuals. Eligible individuals are single tax filers with incomes below $20,000, joint filers with incomes below $40,000, and head-of-household filers with incomes below $30,000.

Brian Graff, executive director of The American Society of Pension Actuaries (ASPA), in Arlington, Virginia, says the revised proposals will substantially reduce the cost to small business owners that establish and maintain retirement plans.”It’s critical that small business workers have the ability to participate in employer-sponsored retirement plans since studies prove that moderate income workers are much more likely to save in an employer-sponsored plan than in individual savings vehicles,” Graff said in a prepared statement.