Administration officials said Monday that private investment managers would be selected for President Clinton's proposed retirement savings accounts if Congress approves the plan.

Banks, securities firms, and others would be invited to make competitive bids to manage investments of the so-called USA Accounts, they said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.