IRA bill heads to House vote
PACE PowerPoint Presentation

IRA bill heads to House vote
WASHINGTON (AP) - The House moved toward passing legislation
Wednesday to expand contribution limits for IRAs and 401(k) plans
and encourage more companies to offer retirement pensions. Sponsors
were optimistic the bill would finally become law this year. "It's
something Democrats and Republicans can agree on," said Rep. Rob
Portman, R-Ohio, the chief sponsor along with Rep. Ben Cardin, D-Md.
A vote was scheduled later Wednesday on the bill, which passed
overwhelmingly last year but never made it out of the Senate.
Supporters said it would supplement Social Security just as 76
million baby boomers begin to retire and boost a U.S. savings rate
that is at its lowest level in 67 years.
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Updated 05/31/2001