FINE, MAKE IT EVEN SIMPLER:

Complex proposal to simplify savings (Kathleen Pender, February 9, 2003, San Francisco Chronicle)

For many people, President Bush's plan to simplify savings would be anything but simple.

Bush proposes creating three new savings accounts -- one workplace retirement plan, one for retirement savings outside of work and one for all other savings.

Let's make the naive assumption that Congress approves all three accounts without imposing any income limits, phase-in periods or special rules for guys who wear polka-dotted boxers.

People who are just starting to save would find the new choices far simpler than the exasperating array of options that exist today.

But if you're in middle age or older, you've probably got a ragtag collection of deductible, non-deductible, Roth and/or rollover IRAs, college savings and workplace retirement plans.

This seems like a case of a columnist making the best the enemy of the better. Posted by Orrin Judd at February 9, 2003 11:53 AM