Office of Management and Budget
Executive Office of the President
  Site Search     
 
About OMB  
- Organization Chart
- Contact OMB
 
President's Budget
- Budget Documents
- Supplementals, Budget Amendments, and Releases
Federal Management
- President's Management Agenda
- Office of Federal Financial
Management
-- Agency Audits
- Office of Federal Procurement
Policy
  -- CAS Board
-- FAIR Act Inventory
Office of Information and Regulatory Affairs
- OIRA Administrator
- Regulatory Matters
- Paperwork Requirements
- Statistical Programs & Standards
- Information Policy, IT & E-Gov
Communications & Media
- News Releases
- Speeches
Legislative Information
- Statements of Administration Policy (SAPs)
- Testimony
- Reports to Congress
Information for Agencies
- Circulars
- Memoranda
- Bulletins
- Pivacy Guidance
- Grants Management
- Reports
Site Map
First Gov  
eGov
|

April 11, 2002
(House)


H.R. 3762 - Pension Security Act of 2002
(Rep. Boehner (R) Ohio and 33 cosponsors)

The Administration strongly supports H.R 3762, which encompasses important principles outlined in the President's retirement security plan. Like the President's plan, this bill would strengthen workers' ability to manage their retirement funds by giving them more freedom to diversify their investments and better information for making savings and investment decisions, including access to professional investment advice. It would ensure that senior executives are subject to the same restrictions as other workers during temporary blackout periods and would clarify an employer's fiduciary responsibility during such periods. In addition, the bill contains other important provisions that will help strengthen America's private retirement system. The Administration looks forward to working with Congress to ensure that the cost of a final bill is consistent with the President's budget.

The Administration will oppose legislation that discourages employers from sponsoring and making contributions to retirement plans for American workers and their families. Proposals that would impose arbitrary caps on the assets an individual chooses to hold in an account, mandate elections of joint trustees, or encourage litigation through expanded ERISA remedies could result in lower retirement savings for American workers.