Ed Royce: “Mr. Speaker, clearly Social Security alone is not enough for retirement in relative comfort today. The private pension…”

“Mr. Speaker, clearly Social Security alone is not enough for retirement in relative comfort today. The private pension system is an indispensable part of retirement security, and this underlying bill, which I have been proud to coauthor, would give American workers more tools to prepare for a better future. The pension reforms we are considering today will help individuals to save more for retirement. Increased pension portability will allow workers to roll over their pension savings between plans when they change jobs. And streamlined rules and regulations would make it easier for small businesses to offer pensions. If these changes are enacted, they will give millions of American workers better tools to prepare for retirement.”