TIAA-CREF's Competition for Ideas to Raise National Savings Rate

The NYT Bucks blog reports on TIAA-CREF's competition called Raise the Rate that offers prizes for the best ideas to increase America's personal savings rates.

Here's an idea: higher deposit rates. Sub 1% interest rates don't encourage savings. If this can't be done, there are tax policy changes that would encourage savings as I described in this post.