Retirement-reform plan sketched for Congress
In a report released by the Research and Policy Committee of the Committee for Economic Development, a blueprint for national retirement reform is laid out for Congress and the administration. Here are some of the report's recommendations:
* Raising the contributions ceilings for individual retirement accounts above those limits allowed in the new tax legislation.
* Making employee contributions to pension plans tax deductible.
* Allowing companies maximum flexibility in making pension plans.
* Gradually raising the retirement age for social security from 65 to 68 and the early retirement age from 62 to 65.
* Revising the inflation index for social security benefits.