Political Quotes

“today I am adding my name as a co-sponsor of the Retirement Security Advice Act of 2002, S. 1978, introduced by my good friend from Arkansas, Senator Tim Hutchinson. I do so, and submit this statement for the Record, because the bill holds important implications for small businesses in this country and the millions of Americans they employ. In 1996, we created the Savings Incentive Match Plans for Employees SIMPLE, as a pension-plan option for small firms in this country. The goal was a simple one: provide a pension plan with low administrative costs for employers so they can offer pension benefits to encourage employees to save for their retirement. I am pleased that these plans have become quite popular, and together with the other pension simplifications and improvements enacted in the last five years, they have contributed to better access to pension benefits by small businesses and their employees. Greater retirement savings, however, have raised new and complex issues for many employees who have seen their pension accounts grow substantially. As the Ranking Member of the Committee on Small Business and Entrepreneurship, I have heard many constituents raise difficult questions in this area: What are appropriate investments for my personal circumstances and risk tolerance? Should I buy stocks, bonds, annuities, or something else? How should I diversify my investments? When should I modify my investment mix? And so on.…”