<nobr>Mar 8, 2005</nobr>

Save Initiative: ERSA Proposal - H.R. 1161

Employer Retirement Savings Accounts (ERSAs) - would consolidate 401(k), thrift, 403(b), and governmental 457 plans as well as SARSEPs and SIMPLE IRAs into a single account. Any employer could sponsor an ERSA.

The bill’s sponsors, along with the Bush Administration, maintain that many firms, especially small businesses, do not offer savings opportunities for retirement because they are too costly and complicated to administer. The plan’s supporters claim that if various savings vehicles are consolidated into one, many employers will find them easier and more cost effective to offer.

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Save Initiative: ERSA Proposal - H.R. 1161

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