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Bush's new plan. Repeal of Top-Heavy?


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USA Today is reporting the following today regarding Bush's new retirement reform legislation that will be introduced on Monday:

Eliminate some rules that make 401(k) plans costly and complex, such as the requirement that companies contribute to accounts of lower-paid workers if most benefits go to top executives. That could be a moot point, because business owners might prefer the expanded Roth and new savings account to setting up a 401(k), some experts say.

Is this an inartful way of saying they are going to propose a repeal of top-heavy requirements?

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It is an inartful way of saying they have no idea what the actual proposal is. They were only trying to score political points.

The White House was supposed to meet with industry people Wednesday to describe the actual proposals. However, once they realized they didn't have any yet, they postponed any more discussion of the issue until next week.

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