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Administration Proposes Changes to Encourage Savings

By Kathleen Schalch
Published February 2, 2003 at 10:00 PM MST

The White House proposes major changes to encourage individuals to save more money toward retirement. The plan would replace Individual Retirement Accounts with personal-savings accounts featuring higher allowable contributions. Critics say the proposals would increase federal deficits. NPR's Kathleen Schalch reports.

Copyright 2003 NPR
Kathleen Schalch
Kathleen Schalch is a general assignment reporter on NPR's national desk. Her coverage can be heard on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition.