Paul Ryan: “I want to thank them for including that section 415 provision. This affects thousands of building trades workers in…”

“I want to thank them for including that section 415 provision. This affects thousands of building trades workers in southern Wisconsin who because of this law are going to have a better pension system that they deserve, that they paid into. So I want to thank them for including this very valuable provision. There is another important part of this, and that is times have changed. When our pension laws were written a generation ago, it was a different kind of an economy. People had the same job for 30 or 40 years of their working lives. They did not move from jobs, but that is not the case today. People change jobs all of the time, but the problem is our economy and our pension laws have not caught up with those times. This important piece of legislation catches up with the times and allows pensions to become portable so as people change jobs they can bring their pensions with them without an adverse consequence on the Tax Code; and most importantly, this thing does great things in two great ways for our society.”