Press Releases

Currently showing results related to Retirement and Pensions

. See all results.

Waters, Scott, Brown and Murray Call on SEC to Increase Investor Protections

09.12.18   WASHINGTON -- Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking Committee, and Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor and Pensions Committee, sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton urging the S… Continue Reading


Scott Remarks at First Meeting of Joint Select Committee on Solvency of Multiemployer Pension Plans

03.14.18   WASHINGTON - Ranking Member Bobby Scott (VA-03) issued the following remarks at the first official meeting of the Joint Select Committee on Solvency of Multiemployer Pension Plans to formally organize and approve its rules. "Thank you, Chairman Hatch and Chairman Brown. "This Committee is charged with tackling a complex and urgent problem, preventing the foreseeable collapse of the multiemployer pension fund. "Hard-working Americans earned their pensions in demanding industries such as constr… Continue Reading


Ranking Member Scott Statement on Appointment to Special Congressional Committee Addressing Multiemployer Pension Crisis

02.23.18   WASHINGTON - Education and the Workforce Committee Ranking Member Bobby Scott (VA-03) issued the following statement after being appointed by House Democratic Leader Nancy Pelosi to the Joint Select Committee on the Solvency of Multiemployer Pension Plans (Joint Select Committee). Ranking Member Scott is one of only 16 Members of Congress to be appointed to it. Established by the Bipartisan Budget Act of 2018, the Joint Select Committee is responsible for putting forward solutions to Congress be… Continue Reading


Committee Democrats Fight for Bipartisan Solution to PBGC Multiemployer Pension Program Crisis

11.29.17   TODAY, the Subcommittee on Health, Employment, Labor, and Pensions held a hearing entitled, "Financial Challenges Facing the Pension Benefit Guaranty Corporation (PBGC): Implications for Pension Plans, Workers, and Retirees." The multiemployer pension system is facing a looming collapse, threatening Americans' retirement security. Without updates to the current law, the PBGC multiemployer program will run out of money by the end of 2025, if not sooner. "I believe we should be guided by the simp… Continue Reading


Joined By Retired Teamsters & Miners, House & Senate Democrats Unveil New ‘Better Deal’ Proposal To Ensure 1.5 Million Retired Workers Across Country Keep Their Earned Pensions In Full

11.16.17   WASHINGTON - House and Senate Democrats today unveiled the latest tenet of their economic agenda, "A Better Deal," which would ensure the pensions that American workers have earned over a lifetime of work are safeguarded and protected into the future. The Democrats' "Better Deal to Save Our Pensions" proposal includes new legislation to ensure Teamsters, miners, and thousands of other American workers can keep the retirement they have earned so their families and livelihoods are not put at risk.… Continue Reading


House, Senate Democratic Leaders to Trump Administration: No Evidence for 18-Month Delay of Critical Protections for Millions of Retirement Savers

09.15.17   (Washington, D.C.) - Today, Representatives Bobby Scott (D-VA), Ranking Member of the Education and the Workforce Committee, and Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Senators Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee, and Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing, Urban Affairs Committee, sent a … Continue Reading


Committee Republicans Pass Flawed Bill Eliminating Key Protection for Workers and Retirement Savers

07.19.17   WASHINGTON - Today, the Committee on Education and the Workforce held a markup on H.R. 2823, the so-called The Affordable Retirement Advice for Savers Act. This legislation repeals the fiduciary rule that simply ensures workers are not ripped-off when investing their hard-earned retirement savings and proposes an alternative full of loopholes that would drastically weaken consumer protections. "The bill being marked-up today repeals the fiduciary rule and proposes a far weaker, loophole-ridden … Continue Reading


Scott, Cummings, Waters on Trump Administration’s Decision to Temporarily Halt Repeated Attempts to Undermine Fiduciary Rule

05.23.17   WASHINGTON - Bobby Scott (VA-03), Reps. Elijah E. Cummings (MD-07), and Maxine Waters (CA-43), ranking members of the House Committees on Education and the Workforce, Oversight and Government Reform, and Financial Services, issued the following statement on today's announcement that the Department of Labor's (DOL) fiduciary rule will be initially implemented after the conclusion of the current 60-day delay. "For years, Democrats have championed this common sense rule because it simply ensures … Continue Reading


Committee Republicans Continue Efforts to Endanger Retiree Savings

05.18.17   WASHINGTON - TODAY, the Subcommittee on Health, Employment, Labor, and Pensions held a hearing entitled "Regulatory Barriers Facing Workers and Families Saving for Retirement." Subcommittee Democrats stand ready to work on meaningful bipartisan solutions to help Americans achieve a secure and dignified retirement. Unfortunately, Congressional Republicans and the Trump Administration's policies and priorities are the actual 'barriers facing working people and families saving for retirement' - no… Continue Reading


Scott to Foxx: Do Not Waive Committee Jurisdiction Over #WrongCHOICE Act

05.05.17   WASHINGTON - Earlier this week, Ranking Member Bobby Scott (VA-03) sent a letter to Chairwoman Virginia Foxx (NC -05) urging her not to agree to any requests to waive the Committee's jurisdiction over H.R. 10 the Financial CHOICE Act of 2017, legislation that would destroy the Department of Labor's fiduciary rule. "It has come to my attention that the House Committee on Financial Services is planning to begin the mark-up of H.R. 10 on May 2nd" Scott wrote. "The bill was referred to our Commi… Continue Reading


Scott to Foxx: Do Not Waive Committee Jurisdiction Over #WrongCHOICE Act

05.04.17   WASHINGTON - Earlier this week, Ranking Member Bobby Scott (VA-03) sent a letter to Chairwoman Virginia Foxx (NC -05) urging her not to agree to any requests to waive the Committee's jurisdiction over H.R. 10 the Financial CHOICE Act of 2017, legislation that would destroy the Department of Labor's fiduciary rule. "It has come to my attention that the House Committee on Financial Services is planning to begin the mark-up of H.R. 10 on May 2nd" Scott wrote. "The bill was referred to our Commi… Continue Reading


Scott Denounces Senate Move to Weaken State Retirement Savings Programs

05.03.17   WASHINGTON - Committee on Education and the Workforce Ranking Member Bobby Scott (VA-03) released the following statement after the U.S. Senate passed (50-49) H.J.RES.66, a Congressional Review Act joint resolution to undercut state initiatives to establish retirement savings programs for private-sector workers. "Today, the Senate passed H.J.Res. 66, a joint resolution that nullifies a critical Department of Labor rule supporting states' efforts to expand workers' access to retirement savings p… Continue Reading


Scott, Waters, Cummings Denounce Trump Administration’s Delay of Conflict of Interest Rule

04.05.17   WASHINGTON, DC - Today, Reps. Bobby Scott (VA-03), Maxine Waters (CA-43), and Elijah E. Cummings (MD-07), Ranking Members of the House Committees on Education and the Workforce, Financial Services, and Oversight and Government Reform, issued the following statement on the Trump Administration's delay of the conflict of interest rule: "It is unacceptable that now - days before the final conflict of interest rule is scheduled to begin - the Trump Administration is carelessly delaying the rule for… Continue Reading


40 House Dems to DOL: Don’t Delay Fiduciary Rule

03.17.17   WASHINGTON, DC - Today, Representatives Bobby Scott (D-VA), Ranking Member of the House Committee on Education and Workforce, Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Elijah Cummings (D-MD), Ranking Member of the House Committee on Oversight and Government Reform, and 37 other Democratic Members of Congress sent a letter to Ed Hugler, Acting Secretary of the U.S. Department of Labor (DOL), expressing opposition to the DOL's proposed 60-day delay of its… Continue Reading


Scott Statement on Proposed Delay of Critical Retirement Savings Protection

03.01.17   WASHINGTON - Committee on Education and the Workforce Ranking Member Bobby Scott (VA-03) issued the following statement after the Department of Labor proposed a 60-day delay of the important "conflict of interest" rule, which would simply protect workers' hard-earned retirement savings and ensure that financial advisors act in the best interests of their retirement clients. "The Trump Administration's proposed delay of this important rule would continue an unacceptable status-quo that is erodin… Continue Reading


Scott Statement on Andrew Puzder

02.15.17   WASHINGTON - Ranking Member Bobby Scott (VA-03) issued the following statement today after Andrew Puzder withdrew his nomination to serve as U.S. Secretary of Labor: "The Department of Labor has a responsibility to ensure our nation's working people earn a living wage, come home safe at the end of the day, and retire with dignity. Committee Democrats had serious concerns with Mr. Puzder's nomination from the beginning, which we raised in a letter to Senators Alexander and Murray. I hope that … Continue Reading


Scott Statement on Administration Efforts to Endanger Retiree Savings

02.03.17   WASHINGTON - Ranking Member Bobby Scott (VA-03) issued the following statement after the Trump Administration effectively halted the implementation of the final "conflicts of interest" rule that would protect workers' retirement savings and ensure they receive investment advice that's in their best interest. Currently, retirement investors and their families lose $17 billion annually as a result of receiving conflicted advice. "With today's announcement, President Trump is enabling some financi… Continue Reading


Slaughter, Scott Secure GAO Investigation to Help Protect the Benefits of American Workers

01.26.17   WASHINGTON, DC - Congresswoman Louise Slaughter (NY-25) and Congressman Bobby Scott (VA-03) announced today that the Government Accountability Office (GAO) has agreed to their request for an investigation examining how restructurings by large corporations impact American workers' pensions and health benefits. Over the last several decades, spinoffs, mergers, bankruptcies, and joint ventures have negatively impacted workers across the country, who have all too often lost their jobs and seen their… Continue Reading


Scott, Warren Highlight GAO Study on 401k Annuity Options for America’s Workers

09.09.16   WASHINGTON - Today, Congressman Bobby Scott (D-VA) and Senator Elizabeth Warren (D-MA), released the findings of a new report by the Government Accountability Office (GAO) they co-requested on the challenges working Americans face in making their 401(k) savings last throughout retirement. ‎Specifically, GAO analyzed whether employers' 401(k) plans provided workers with appropriate options to annuitize their savings-of the plans GAO surveyed, very few of them offered such options. GAO made se… Continue Reading


Scott Statement on Republicans’ Multiemployer Pensions Plan Discussion Draft

09.09.16   WASHINGTON - Ranking Member Bobby Scott (VA-03) released the following statement after Chairman John Kline (MN-02) released a plan to authorize a new multiemployer pension system. "As we work through the rest of the 114th Congress, protecting and strengthening the pensions of America's workers and retirees remains a top priority. I appreciate Chairman Kline's continued interest in addressing the multiemployer pension crisis, and I look forward to a thorough review of the discussion draft legi… Continue Reading

Showing page   of 4