This Piggy Has Wings

Here's what President Bush's savings plan will mean for your finances

Now that the shock has worn off--and we've all had a chance to absorb the idea that our trusty old IRAS and 401(k) accounts might be gobbled up by President Bush's radical savings proposals--it's a good time to get prepared by playing "what if." But first, a quick review: Bush wants to shelve dozens of types of tax-deferred accounts, from IRAS and 401(k)s to 529s (for college), and replace them with three much simpler animals:

--ERSAs (employer retirement savings accounts) would be employer-sponsored workplace accounts. Employees could kick in as much as $12,000 a year in pretax money (the best kind)...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!