Robert Andrews actually said...

But we are not here to comment on the size of that loss. We are here because our hypothesis here is that, because the 401(k) system, the DC system, is in need of reform, the loss is worse that it would have otherwise been.

Context

Andrews emphasizes the need for reform in the 401(k) system due to significant losses.

02/23/2009

https://congress.gov...

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