'Progressive indexing' Social Security plan wins advisers' kudos; Senate plan also eyes MFS chairman's idea.(News)

Investment News, May, 2005

Byline: Sara Hansard WASHINGTON - Of the three plans for personal Social Security accounts put forward at an April 26 Senate Finance Committee hearing, advisers tend to favor one advanced by Robert Pozen, chairman of MFS Investment Management in Boston. That plan was proposed later in the week by President Bush.

The plan also received the most attention from committee members, who on Tuesday held the first hearing in Congress on personal accounts that are being proposed by President Bush. James Kibler, president of Eldridge Financial Planning LLC in New York, was glad to see some innovative ideas being put forward to address financing problems facing the Social Security system. "I think something definitely needs to be done,'' he said. "In...

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