Friday, August 04, 2006

Boehner on Senate Passage of Bipartisan Pension Reforms

Majority Leader John Boehner via email:
"These pension reforms will help protect the retirement security of American workers and ensure their hard-earned pension benefits are there for them when they retire. After seven years of hard work to modernize our outdated pension laws, I'm pleased our work will finally pay dividends for workers who are counting on their pension benefits in their retirement. This bill will not only safeguard the retirement security of millions of working families, it will also protect the interests of taxpayers who could be on the hook for a multibillion dollar bailout of the Pension Benefit Guaranty Corporation.

"Providing high-quality, individualized investment advice is one of the most important pension protections we can provide. I believe the proposal included in this bill will make a real difference for workers who have been denied access to this type of quality advice for years. The Enron case taught us that while workers are gaining unprecedented control over their retirement savings, many of them are receiving precious little guidance about how to make the most of it.

"Making complex financial decisions can be a daunting process for workers, particularly when it comes to navigating the maze of investment options available today. This bill gives American workers the type of meaningful, personally-tailored investment advice that will help them make the most of their retirement future."

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