Mike Enzi: “with the passage of the Sarbanes-Oxley Act, Congress acted swiftly and surely to restore investor confidence in our…”

“with the passage of the Sarbanes-Oxley Act, Congress acted swiftly and surely to restore investor confidence in our capital markets. Something needed to be done to assure people that it was OK for them to start investing in and relying on the market again. People wanted to feel certain that the rules had been fixed and the market was fair for all. Although I am proud we were able to do that, we all knew that there was still more that needed to be done to help the millions of American workers whose retirement savings are fueled by the financial markets. There's a gap that still threatens the retirement security of the 42 million Americans who participate in defined contribution plans, like 401(k) plans. In defined contribution plans, the employee--not the employer--decides how much and how to invest retirement assets. As anyone who has been investing their hard earned dollars through their employer provided plans knows, there are quite a few choices out there. They each have their own risks and rewards, but they have one thing in common--they require an employee who is investing his or her pay to have a good sense of the market. Employees find themselves having to navigate bull and bear markets, weather changes in personal and professional circumstances, and use long-term planning to set a course that leads to retirement security. 401(k) plans provide great opportunity as well as risk.”