Calvin Dooley: “I rise in support of H.R. 2269, and I appreciate all of the work that has gone in to crafting this piece of legislation.…”

“I rise in support of H.R. 2269, and I appreciate all of the work that has gone in to crafting this piece of legislation. In my estimation, this legislation is long overdue. What we are seeing is an increasing number of working people that are participating in plans that require a defined contribution. They need to have access to the information that allows them to make the decisions that are going to maximize the returns on their investments and their retirement accounts. This is inevitable, as we are seeing more and more people that are coming to expect that they will have more choices, more choices in the consumer products that they are accessing, as well as more choices in the financial alternatives they have to meet their retirement needs. I think this legislation takes a very balanced approach, and especially with some of the modifications that were agreed to by the gentleman from Ohio (Mr. Boehner) that were offered by the gentleman from North Dakota (Mr. Pomeroy), and I think it also addresses some of the remaining concerns. It does provide for adequate disclosure. It does provide for fiduciary responsibility.”