TENNESSEE NEWS

Stan Owens

executlve vlce precldent

!lpp41gR John Tower of Texas rEhas introduced the Mortgage Retirement Account legislation (MRA) that was promised at the time of the Conference With Congress. The companion bill in the House was introduced by Congressman St. Germain, chairman of the

House banking committee. Now we are "pulling out all of the stops" to get this legislation passed.

Basically, the bill is as follows: An MRA is similar to an IRA, or, put more aptly, it provides another spot for individuals to put their retirement funds. Currently you can use money funds, stocks, savings accounts and the like. An MRA adds load payoffs on existing mort-