WASHINGTON, D.C. -- House Education & the Workforce Chairman John Boehner (R-OH) today applauded the Department of Labor’s decision to replace Enron retirement plan executives with an independent pension expert, saying the swift action is further indication that the Bush Administration will work energetically to protect the retirement savings of American workers.

     “This action sends a strong signal to American workers that the federal government will move decisively to restore worker confidence in the nation’s retirement security and pension system,” said Boehner. “The Department’s decision should give workers around the country the assurance that this administration will act swiftly to protect their interests.”

     Boehner announced last Thursday that he and Employer-Employee Relations Subcommittee Chairman Sam Johnson (R-TX) will introduce the pension security legislation proposed by President Bush. The measure will includes proposals to (1) provide workers greater freedom to diversify and manage their own retirement funds; (2) ensure that senior corporate executives are held to the same restrictions as average American workers during “blackout periods”; and (3) give workers quarterly information about their investments.

     President Bush also called on the Senate to pass the bipartisan Retirement Security Advice Act (H.R. 2269), legislation that would enhance worker access to professional investment advice. The House passed the bill in November with the support of 64 Democrats.

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