Mr. Speaker, over the last year thousands of Americans employed by Enron, WorldCom, Adelphia and others have watched helplessly as their companies collapsed and their retirement savings evaporated. In response, President Bush called on Congress to act in a bipartisan fashion to restore confidence in our Nation's pension and retirement security system, and I am not ashamed to say more than 150 days ago the House did its part by passing a comprehensive pension protection bill that protects workers from losing their retirement savings in Enron-style corporate meltdowns. The House passed the Pension Security Act to protect workers' retirements by stopping harmful inside trader moves. It gives workers new freedoms to diversify their retirement savings in 3 years and allows workers to receive sound investment advice about their retirement plans. American workers deserve no less than this from Congress. And also we need to support a 401(k) continuation and permanent renewal of the marriage penalty. The Senate has not passed any protection bill; and by supporting this bill rule, you are standing up for American workers.
Editor's note · Context
Addressing the need for pension protection legislation in response to corporate collapses.
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