Political Quotes

“Just to clarify, there was a comment made that these are government-run plans. Under these plans, the States establish the framework for deducting the contributions, but these will be managed by investment professionals, not by the State. Mr. Speaker, I yield 3 minutes to the gentleman from California (Mr. DeSaulnier), my colleague, and a leader on the Education and the Workforce Committee. Mr. DeSAULNIER. Mr. Speaker, I thank my good friend from the State of Oregon (Ms. Bonamici) for the brief opportunity to speak. I did want to speak personally just briefly on my experience in my previous job in the California legislature when I voted for the Secure Choice Act. Then we spent over 4 years working with the business community, the investment community, and our attorneys to make sure the issues that the majority have brought up in regards to ERISA and other concerns, and I did this specifically as a former small-business person with the small-business stakeholders, to make sure these concerns were taken care of. We think that they have been taken care of, and we are proud of the Secure Choice Act. Close to 7 million Californians and 55 million people nationwide, most of them low- and middle-income, don't have access to retirement benefits through their employer. We are talking about people mostly who work for small businesses where neither the employer nor the employee can afford to enroll in expensive Wall Street-type financial advisers.…”