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OPA News Release: [02/28/2003]
Contact Name: Kathleen
Harrington
Phone Number: (202) 693-4676
Secretary of Labor Elaine L. Chao Applauds Boehner Bill
to Strengthen Retirement Security
WASHINGTON—Secretary of Labor Elaine L. Chao today commended
Representatives John Boehner (R-Ohio) and Sam Johnson (R-TX) for introducing
legislation to strengthen the retirement security of America’s
workforce.
“Congress made a down payment on improving retirement security by
passing a portion of the President’s Retirement Security Plan last year
through the Sarbanes-Oxley Act of 2002. I am very pleased that the House of
Representatives has made passing the remainder of the plan a priority,”
Chao said. “We have got to do all we can to strengthen the confidence of
the American workforce that their retirement savings will be secure and
protected,” Chao concluded.
Last year Congress passed two of the President’s key reforms. Those
reforms guarantee workers the right to receive a 30-day notice prior to a
pension plan blackout period and ensure that senior corporate executives are
subject to the same restrictions as average workers.
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