Press Releases

Currently showing results related to Retirement and Pensions

. See all results.

Chairman Scott Opening Statement at Markup of Legislation to Strengthen and Modernize Our Nation’s Workforce, Achieve Retirement Security for Americans

04.05.22   WASHINGTON – House Education and Labor Committee Chairman Robert C. “Bobby” Scott (VA-03) delivered the following opening statement at today’s Committee Markup of the Workforce Innovation and Opportunity Act of 2022 (H.R. 7309) and Protecting America’s Retirement Security Act (H.R. 7310).  “Today, the Committee is marking up two bills to support America’s workers, families, and businesses.  “… Continue Reading


McBath, Democratic Colleagues Lead Legislation Protecting Retirement Security for Americans

04.04.22   Washington, DC — U.S. Representative Lucy McBath has introduced legislation in the House to help Americans save for retirement and safeguard their investments. The Protecting America’s Retirement Security Act (PARSA), H.R.7310, is co-sponsored by Education and Labor Committee Chairman Bobby Scott, Rep. Bonnie Watson Coleman, Rep. Joe Courtney, Rep. Lauren Underwood, Rep. Kathy Manning, and Rep. Teresa Leger Fernandez. This legislation will help Americans plan… Continue Reading


House Passes Bipartisan Legislation to Expand Access to Secure Retirement

03.29.22   WASHINGTON – Today, the House passed sweeping bipartisan legislation to help more workers save and prepare for retirement. The legislation—Securing a Strong Retirement Act of 2022 (H.R. 2954)—includes the Education and Labor Committee’s bipartisan Retirement Improvement and Savings Enhancement (RISE) Act (H.R. 5891) as well as other retirement-related provisions approved by the Ways and Means Committee. The RISE Act, which the Education and … Continue Reading


Committee Advances Bipartisan Legislation to Expand Workers’ Access to Secure Retirement

11.10.21   WASHINGTON - Today, the Education and Labor Committee voted to advance the Retirement Improvement and Savings Enhancement (RISE) Act (H.R. 5891), a bipartisan bill to help more workers save and prepare for retirement. The legislation-led by Chairman Robert C. "Bobby" Scott (VA-03), Ranking Member Virginia Foxx (NC-05), Health, Employment, Labor, and Pensions Subcommittee Chair Mark DeSaulnier (CA-11), and Subcommittee Ranking Member Rick Allen (GA-12)-advanced through the Committee unanimously… Continue Reading


Chairman Scott Applauds Biden Administration for Supporting Workers and Retirement Savers

10.13.21   WASHINGTON - Chairman Robert C. "Bobby" Scott (VA-03) released the following statement in response to a new proposal released by the Biden Administration that would reverse Trump-era rules that made it harder for retirement plans to consider climate change and other environmental, social and governance factors when selecting investments and exercising shareholder rights. Chairman Scott helped lead opposition to the Trump-era rules in July and October of last year. "I applaud the Biden Administ… Continue Reading


Scott, Murray: New GAO Report on 401(k) Fees is a Wake-Up Call

08.26.21   WASHINGTON - A new report released today by the Government Accountability Office (GAO) revealed that almost 40 percent of 401(k) plan participants do not fully understand the fees they are paying on their retirement accounts, with many unaware they are even paying fees. It also found that consumers have difficulty using the information that the Department of Labor (DOL) requires 401(k) plans to provide about their fees. According to the report, 45 percent of participants are not able to use th… Continue Reading


Scott, Murray Ask Government Watchdog to Review Funds Responsible for the Retirement Security of Millions

05.07.21   WASHINGTON - Yesterday, Chairman Robert C. "Bobby" Scott, House Education and Labor Committee, and Chair Patty Murray (D-WA), Chair of the Health, Education, Labor, and Pensions (HELP) Committee, sent a letter to the Government Accountability Office (GAO) requesting it conduct a review of target-date funds-funds billed as ensuring people's retirement security by balancing risk and providing an age-appropriate asset allocation for plan participants over time. There are more than $1.5 trillion inv… Continue Reading


Scott, Murray, Hassan Respond to New Labor Department Guidance on Retirement Cybersecurity

04.14.21   WASHINGTON - Today, Chairman Robert C. "Bobby" Scott (VA-03), House Committee on Education and Labor, Chair Patty Murray (D-WA), Senate Committee on Health, Education, Labor, and Pensions (HELP), and Senator Maggie Hassan (D-NH) released the following statement in response to new guidance issued by the Department of Labor for retirement plan sponsors, fiduciaries, record-keepers, and participants regarding cybersecurity. "The Biden administration is showing they understand there is too much at … Continue Reading


Chairman Scott Celebrates Protections for Retirees in American Rescue Plan

03.10.21   WASHINGTON - Chairman Robert C. "Bobby" Scott (VA-03) released the following statement after the House passed H.R. 1319, the American Rescue Plan Act, which includes important provisions that he helped craft to address the multiemployer pension crisis and protect workers' retirement benefits. "The American Rescue Plan is a historic victory for more than 1 million retirees who have been at risk of losing everything they had worked so hard to save. Because of this relief package, construction wor… Continue Reading


Democratic Leaders Applaud Pension Protection Legislation in Latest COVID-19 Relief Package

02.09.21   WASHINGTON - Today, House Education and Labor Committee Chairman Robert C. "Bobby" Scott (D-VA), House Ways and Means Committee Chairman Richard E. Neal (D-MA), Senate Finance Committee Chairman Ron Wyden (D-OR), and Senate Health, Education, Labor, and Pensions Committee Chair Patty Murray (D-WA) applauded the inclusion of legislation to protect retirees' pensions in the COVID-19 relief package. "Among its many devastating consequences, COVID-19 has further jeopardized already struggling pensi… Continue Reading


House Democrats to Introduce Legislation to Protect Retirees’ Pensions Amid COVID-19 Crisis

01.20.21   WASHINGTON - Tomorrow, House Committee on Education and Labor Chairman Robert C. "Bobby" Scott (VA-03), Congressman Donald Norcross (NJ-1), Congresswoman Haley Stevens (MI-11), and Congressman Joe Morelle (NY-25) will introduce legislation to shield workers, retirees, employers, and taxpayers from the devastating consequences of the multiemployer pension crisis. The Emergency Pension Plan Relief Act (EEPRA) of 2021 (H.R. 423) would prevent the imminent collapse of failing multiemployer plans and… Continue Reading


Chairman Scott Statement on the Nomination of Marty Walsh for Secretary of Labor

01.07.21   WASHINGTON - Committee on Education and Labor Chairman Robert C. "Bobby" Scott (VA-03) released the following statement after President-elect Biden nominated Marty Walsh to lead the Department of Labor (DOL). "I congratulate Marty Walsh on his nomination to be the next Secretary of Labor. With Mr. Walsh's experience in the Laborers' Union, Massachusetts' House of Representatives, and most recently as the mayor of Boston, I am confident that he will restore the mission of the Department to ensu… Continue Reading


Democrats Criticize Proposed Labor Department Rule Weakening Tool to Advance Financial Interests of Workers and Retirees

10.02.20   Washington, D.C. - Today, Congressman Bobby Scott (D-VA), chair of the House Education and Labor Committee, U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Senator Sherrod Brown (D-OH), ranking member of the Senate Committee on Banking, Housing, and Urban Affairs and Congresswoman Maxine Waters, chairwoman of the House Committee on Financial Services, led several of their Democratic colleagues in submitting a comment letter… Continue Reading


Democrats Demand Trump Administration Rescind Proposals Leaving Workers’ Retirement Savings at Risk

08.07.20   WASHINGTON - Yesterday, in a letter to Labor Secretary Eugene Scalia, House Education and Labor Committee Chairman Robert C. "Bobby" Scott, Senate Health, Education, Labor, and Pensions Committee Ranking Member Patty Murray (D-WA), House Financial Services Committee Chairwoman Maxine Waters, Senate Banking Committee Ranking Member Sherrod Brown (D-OH), and Senate Finance Committee Ranking Member Ron Wyden (D-OR) led 24 Democrats in opposing the Department's retirement investment advice rules. T… Continue Reading


Committee Democrats to Scalia: Stop Undermining Americans’ Ability to Make “Sustainable Investments”

07.30.20   WASHINGTON - In a letter to Secretary Eugene Scalia, 21 Committee Democrats expressed deep concern about the Department of Labor's (DOL) proposed rule to undermine workers' ability to invest responsibly when saving for retirement. The rule would needlessly restrict retirement plans for considering environmental, social, and governance (ESG) factors when making investment decisions. In the letter to Secretary Scalia, the Members said the DOL failed to provide an adequate justification for overtu… Continue Reading


Committee Holds Virtual Member Briefing on How the Trump Administration is Failing Retirement Savers

07.16.20   WASHINGTON - Today, the Committee held a virtual briefing to examine how recent Department of Labor's actions have weaken retirement protections for workers. The briefing, entitled "Failing Retirement Savers: Examining Three Recent Labor Department Actions," focused on how the Trump administration has taken steps that will erode retirement security for future retirees by exposing them to bad advice and greater risk while undermining accountability for unethical retirement advisors. "In this … Continue Reading


Scott, Murray Press Trump Administration for Extended Comment Period on Weakened Retiree Protection

07.02.20   WASHINGTON - Today, Chairman Bobby Scott (D-VA), House Education and Labor Committee and Ranking Member Patty Murray (D-WA), Senate Health, Education, Labor, and Pensions Committee, sent a letter to Secretary of Labor Eugene Scalia calling for the Department of Labor to extend the comment period for its recent proposal to replace an Obama-era retirement protection-which Scalia fought in court to strike down prior to being nominated to lead the Department-with a weaker version which would let fin… Continue Reading


Chairman Scott Statement on DOL Proposal Threatening Workers’ Retirement Savings

06.30.20   WASHINGTON - Chairman Bobby Scott (VA-03) issued the following statement after the Department of Labor (DOL) proposed a new fiduciary rule that would threaten workers' hard-earned retirement savings. "As we continue to confront the worst public health emergency and economic crisis in recent history, the Department of Labor issued a new rule that undermines workers' protections when making major decisions on how to save for retirement. Specifically, the Department reinstated a loophole-ridden … Continue Reading


Scott Praises Ways and Means Committee for Advancing the Rehabilitation for Multiemployer Pensions Act

07.10.19   WASHINGTON - Congressman Bobby Scott (VA-03), chairman of the Education and Labor Committee, released the following statement after the Ways and Means Committee advanced H.R. 397, the Rehabilitation for Multiemployer Pensions Act (Butch Lewis Act). "The multiemployer pension system faces an urgent crisis that is threatening the retirement security of over one million Americans. If Congress fails to act, retirees will see catastrophic reductions in their hard-earned pensions. Jobs will be lost. … Continue Reading


Murray, Scott Request Oversight of Cybersecurity in the Retirement System

02.13.19   WASHINGTON -Senator Patty Murray, (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Congressman Bobby Scott, (D-VA), Chairman of the House Committee on Education & Labor sent a letter to Gene Dodaro, Comptroller General of the U.S. Government Accountability Office (GAO), requesting GAO to examine the cybersecurity of the retirement system. "We write to request the U.S. Government Accountability Office (GAO) examine the cybersecurity of the pri… Continue Reading

Showing page   of 5