Robert C. Pozen , chairman of MFS Investment Management, today told...

Robert C. Pozen, chairman of MFS Investment Management, today told lawmakers that refundable tax credits for families that have annual incomes under $50,000 and contribute to IRAs or other retirement plans would help boost the nation's savings rate. Also, placing 1% of pay from workers not covered by employer retirement plans into new ULTRA-SIMPLE retirement accounts would also help boost savings, Mr. Pozen told members of the Joint Economic Committee. He also said gradual indexation of Social Security benefits for middle- and high-income workers would help slow down the deficit of the Social Security trust funds.