Political Quotes

“Today Congress can take action to give employees more options in how to manage their 401(k)s and other investment plans. H.R. 1, the Pension Security Act, includes important financial safeguards and new disclosure protections for America's workers. It will help ensure that employees receive the advice they need to plan and invest for their future, and it provides Americans the power they need and deserve to manage their retirement funds. This bill helps American workers in three important ways: First, it provides companies with guidelines on how to advise workers about investing. To enhance investment plan protections, this bill requires that financial advisers let people know that they have the right to third-party advisers, enabling employees to get the advice that they need. Today we are giving employees the power to choose alternative advisers. In addition, H.R. 1000 works to provide the educational tools for employees who are investing in the companies they are working for. It significantly improves an employee's access to information regarding their accounts by requiring that they be provided with quarterly statements. By educating America's workers on investing, they will be better able to plan for their own retirement. Third, this legislation helps make it clear to employees that diversifying their investments is absolutely essential. Each quarterly statement will reiterate the point.”