(Bloomberg) -- President Barack Obama’s proposal for encouraging low-income Americans to set money aside in accounts with tax advantages is a limited step that may help bolster retirement savings.

The proposal, detailed today by the administration, would let Americans with as little as $25 open individual retirement accounts that invest in government bonds. The principal, funded with post-tax contributions, would be protected and could be withdrawn without penalty at any time.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access