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Nixon pension plan would spur self reliance savings
President Nixon proposes a tax favored retirement savings plan allowing wage earners to save up to 20 percent of earnings to a $1,500 annual maximum with tax deduction and tax deferral on earnings. The plan expands deductions for self employed persons to $7,500 yearly and aims to broaden private retirement coverage, drawing support from business groups and criticism from labor unions.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Congress
Eugene Keogh
D-N.y
Keogh
Harrison Williams
D-M
Jacob Javits
R-N.y
Senate
George Meany
Afl-Cio
Leonard Woodcock
United Auto Workers
Andrew J. Biemiller
Democratic House
Wisconsin
Biemiller
House
Ways and Means Committee
Nelson Jack Edwards