[20060119]RS21451_退休储蓄账户：2006财年总统预算提案.pdf

Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21451Updated January 19, 2006Retirement Savings Accounts: PresidentsBudget Proposal for FY2006Patrick J. PurcellSpecialist in Social LegislationDomestic Social Policy DivisionSummaryThe Presidents proposed budget for FY2006 would establish Lifetime SavingsAccounts (LSAs) that could be used for any type of saving, and from which withdrawalscould be made at any time, and Retirement Savings Accounts (RSAs) that could be usedfor retirement saving. In addition, beginning in 2006, several kinds of employer-sponsored retirement plans would be consolidated into Employer Retirement SavingsAccounts (ERSAs). Qualification rules in the tax code would be simplified, while otherrules governing ERSAs would conform substantially to those that apply to 401(k)plans. This report will be updated as further legislative developments occur.Lifetime Savings Accounts. Individuals of any age could contribute up to$5,000 annually, indexed to inflation, to a Lifetime Savings Account (LSA), regardless ofwhether they had any earnings that year. No upper income limit would apply to LSAparticipant