President Bush revealed that his first steps toward realizing a goal to transfer a portion of Social Security taxes into privately managed equity and fixed-income accounts may include cloning a federal retirement vehicle for members of the military known as the Thrift Savings Plan, The Wall Street Journal reports.

In a speech last week, Bush said the Thrift model already enables federal workers to invest their assets in a handful of privately managed stock and bond accounts. Most Thrift plan participants have avoided common investor blunders, such as shifting portfolio assets into equities at the top of a market cycle.

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