July 29, 1994
TO: BOARD OF GOVERNORS NO. 69-94
FEDERAL LEGISLATION COMMITTEE NO. 18-94
FEDERAL LEGISLATION MEMBERS NO. 15-94
IRA ISSUES GROUP
RE: INSTITUTE SUBMITS TESTIMONY ON PROMOTING SAVINGS TO
BIPARTISAN COMMISSION
__________________________________________________________
On July 29, the Institute submitted testimony on promoting
savings to the Bipartisan Commission on Entitlement and Tax
Reform.
The Commission was established in November 1993 to recommend
alternative tax reform proposals and revisions in Federal
entitlement programs. The Commission is chaired by Senator
Robert Kerrey (D-NE), and has 32 members, including 12 Senators
and 10 Members of Congress.
In its testimony, the Institute supports changes in the tax
law designed to stimulate increased savings (such as expanded
availability of Individual Retirement Accounts and reduction of
barriers to the use of simplified employee pensions and 401(k)
plans), and suggests that broader approaches to restructuring the
tax system to encourage savings also merit attention.
A copy of the Institute testimony is attached. If you wish
additional information, please contact the Legislative Affairs
Department at 202/326-5890.
This memo can be found on FUNDS, the Institute's Fund User
Network and Delivery System, under "Legislative Affairs;
Washington Update."
Michael Stern
Legislative Representative
for Taxation
Attachment