Tim Walberg: “I guess the point that I would make again is not the fact that we are trying to stop States from doing this. In fact…”

“I guess the point that I would make again is not the fact that we are trying to stop States from doing this. In fact, this CRA does not do that at all. It just simply says we express our concern that States would be allowed as a result of what was put through in midnight fashion that exempted States from having to come under the same protections of ERISA that we would expect to be covered for all retirement plans. That is the challenge. We want to make sure that retirees' incomes are protected in a secure, safe way, and that is the value of ERISA. This proposal or the rule that was put through did not cover that, and that is our concern, again, protecting retirees. Mr. Speaker, I reserve the balance of my time.”