Bentsen played a role in the creation of what retirement account?
401k
Social Security
Pension Fund
Individual Retirement Account
Answer
Bentsen played a role in the creation of the Individual Retirement Account (IRA). The IRA was created in 1974, and it is a tax-advantaged retirement savings plan. Individuals can contribute up to $6,000 per year to an IRA, and the contributions are tax-deductible. The earnings on the IRA are also tax-deferred, until the money is withdrawn in retirement.
The Wordsmith Quiz: Unlocking the Legacy of Lloyd Bentsen
More Questions
In the 1988 vice presidential debate, who did Bentsen famously tell "you're no Jack Kennedy"?
Which position did Bentsen refuse to serve a full term in?
At the Treasury, Bentsen helped win the ratification of which trade agreement?
Who succeeded Bentsen as Secretary of the Treasury?
What prestigious award was given to Lloyd Bentsen in 1999?
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