COPY-Bush advisers favor conservative personal accounts for Social Security

WASHINGTON Sources say President Bush's advisers are recommending a conservative approach to personal accounts for Social Security.

Bush met last week with his Social Security advisers. According to two sources, the advisers say the personal accounts should be structured like many company-sponsored retirement plans, with only a handful of investment options.By default, workers would be enrolled in a "life cycle" account, in which investments become more conservative as investors age, if they don't choose one of the other options.Yet to be decided is whether people will be able to pick from a broader range of investments after their accounts reach a certain threshold, or how large the private accounts should be and how guaranteed benefits would be affected.

Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.