Supporting 401(k) Bill
Pensions & Investments (09/17/01) Vol. 15, No. 10 p.12; Arnett, Angela

The ACLI strongly supports the Retirement Security Advice Act, introduced by Rep. John Boehner (R-Ohio). While Boehner himself admits that his bill is not perfect, its shortcomings are heavily outweighed by its benefits--namely, the investment advice that participants could receive concerning their retirement nest eggs in their 401(k) plans. Because the market's decline has exposed many of the bad management decisions workers have made recently concerning their 401(k) plans, one has to wonder whether workers' worries about their retirement would be as significant as they are today if Boehner's legislation was law, writes Angela Arnett, ACLI senior counsel.


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