February 9, 1995
TO: BOARD OF GOVERNORS No. 26-95
FEDERAL LEGISLATION COMMITTEE No. 11-95
FEDERAL LEGISLATION MEMBERS No. 11-95
MEMBERS - ONE PER COMPLEX No. 17-95
GOVERNMENT AFFAIRS IRA ISSUES GROUP
RE: INSTITUTE TESTIFIES BEFORE SENATE FINANCE COMMITTEE
______________________________________________________________________________
On February 9, 1995, Institute President Matthew Fink, testified before the Senate
Finance Committee on proposals to expand tax incentives for savings. These proposals include
the American Dream Savings Account in the Republican Contract, the President’s proposal and
S.12, the Roth-Breaux Bill. (See Federal Legislation Committee memorandum No. 37-94; No. 38-
94; No. 3-95.) In its testimony, the Institute strongly supported legislation re-establishing
universal access to a fully deductible IRA. Also included in the testimony were pension
simplification suggestions designed to broaden retirement income coverage for employees of
small businesses.
A copy of the Institute’s testimony is attached.
We will keep you informed as these matters develop. For additional information, please
contact the Legislative Affairs Department at (202) 326-5890. This memo can also be found on
FUNDS, the Institute’s Fund User Network and Delivery System, under "Legislative Affairs;
Washington Update."
Michael Stern
Legislative Representative
for Taxation
Legislative Affairs
Attachment