Statement on proposed pension security legislation

Weekly Compilation of Presidential Documents, March 4, 2002

February 26, 2002

I applaud Senators Tim Hutchinson, Trent Lott, and Judd Gregg for introducing legislation today to strengthen the retirement security of American workers. This legislation would protect workers by giving them freedom to manage their own retirement savings, fair notice of any blackout period, better access to sound investment advice, and is consistent with the retirement security principles I previously outlined. This bill also assures that corporate officers would be held to the same restrictions as those imposed on workers.

I look forward to working with the Congress in a bipartisan fashion to enact these important protections into law.

NOTE: The statement referred to S. 1969, the "Pension Security Act of 2002."