Washington, DC —(ENEWSPF)–June 7, 2016. United States Senators Elizabeth Warren (D-Mass.) and Mike Lee (R-Utah) introduced the Graduate Student Savings Act of 2016, which would allow funds from a graduate student’s stipend or fellowship to be deposited into an Individual Retirement Account (IRA). While fellowship or stipend funding currently is taxed as income by federal and state governments, it does not qualify as “compensation” and so cannot be saved in an IRA.
