Statement on Proposed Pension Security Legislation

I applaud Congressmen John Boehner and Sam Johnson for introducing legislation today to strengthen the retirement security of American workers. Consistent with the principles that I outlined at the beginning of this month, their bill would protect workers by giving them freedom to manage their own retirement savings, fair notice of any blackout period, and better access to sound investment advice. This bill also assures that corporate officers would be held to the same restrictions as those imposed on workers.

This bill, and other good legislation like that introduced by Congressmen Portman and Cardin, will help provide economic security to both workers and shareholders. I look forward to working with the Congress in a bipartisan fashion to enact these important protections into law.