Individual Unemployment Accounts

The Independent Institute has an article in its Spring 2004 issue called Individual Unemployment Accounts. These accounts, otherwise known as IUAs, would "be a mandatory and portable individual trust to which the employer and employee contribute". From what I've read they sound like Medical Savings Accounts, but for unemployment. These accounts sound better than the status quo, even though the fact that these accounts are mandatory might turn-off die hard libertarians. There's a lot of information in the article so if you want more details you're going to have to read it.