House Democrats To Offer Proposal for Retirement Savings

By Mike Allen
Washington Post Staff Writer
Tuesday, July 26, 2005; Page A08

House Democrats intend to propose a retirement-savings plan today that will be their first leadership-backed alternative to Republican plans for a broad retirement-security package, which includes changes to Social Security.

The Democratic plan, called AmeriSave, would increase incentives for middle-class workers to participate in 401(k) retirement accounts and individual retirement accounts. It would also create tax credits for small businesses that set up retirement accounts for their employees.