Baby Boomers Have the Last Word
Wall Street Journal (08/28/03) p.A10; Boskin, Michael J.

The Treasury Department has suggested a revision of tax-deferred saving that would create three omnibus vehicles--one for employer retirement plans, one for household retirement plans, and one for general purposes, the latter permitting preretirement withdrawals without penalty. The new plans would have higher contribution limits and two of them would have the tax relief at the end, which could discourage some savers, according to this opinion piece. Whether the plans will work as intended depends somewhat on the economy, and in part on the actions of baby boomers as they retire, the commentary says.


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