1/31/2003: Bush Proposes Creation of New Type of Employer-Sponsored Retirement Plan, New IRAs (U.S. Treasury Department)Excerpt: "The first [proposal] creates two new consolidated savings accounts: Lifetime Savings Accounts (LSAs) and Retirement Savings Accounts, (RSAs) ... The second proposal creates Employer Retirement Savings Accounts (ERSAs) to promote and vastly simplify employer sponsored retirement plans by consolidating 401(k), SIMPLE 401(k), 403(b), and 457 employer-based defined contribution accounts into a single type of plan that can be more easily established by any employer."
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