Few workers are held back by the current $10,000 limit on tax-deferred 401(k) savings.
But they add that families should first take full advantage of the more beneficial tax-deferred savings accounts and corporate stock or saving plans available to them.
By law, companies are required to allow employees to transfer tax-deferred savings plans to other accounts.
When I was in my 20's and in my first job out of college, he preached to me about the benefits of tax-deferred savings.
I also contribute 5% of my pay to TSP, which is a tax-deferred savings plan similar to private sector 401(k) plans.
But their company preserved the special tax-deferred savings and supplemental pensions awarded to dozens of top executives.
The proposals for the three new tax-deferred savings plans are a notable case in point.
If you're a new worker, for example, you may be enrolled in a tax-deferred savings account, whether or not you sign up.
We do not really need all those different plans and having one, simple tax-deferred savings plan would make a lot of sense.
The higher taxes sought by President Clinton would provide an added incentive for tax-deferred savings.