‘401Kids’ savings accounts sought
A congressional measure introduced this year would create savings accounts for children that could finance a college education, a house or retirement.
A congressional measure introduced this year would create savings accounts for children that could finance a college education, a house or retirement. HR 87, called the 401Kids Family Savings Act of 2007 and introduced by Rep. Judy Biggert, R-Ill., would allow a yearly $2,000 after-tax contribution to the accounts but would allow interest to accumulate tax free. Qualified withdrawals also would be tax free. For better details, visit http://thomas.loc.gov
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