Chairman Miller Unveils Principles to Preserve and Strengthen 401(k)s in the 111th Congress

In light of ongoing distortions of Democratic efforts to preserve and strengthen Americans' retirement security, Chairman George Miller recently reiterated the committee’s legislative priorities. The next Congress’ efforts to help Americans enjoy a secure retirement will include: exposing excess fees that Wall Street middle men take from workers' accounts, bringing young and low-wage workers into the system through automatic enrollment, ensuring that retirement accounts have diversified investment options with low fees, and much more. More about the committee's priorities for preserving and strengthening Americans' retirement security »
 

Committee Will Work with Obama-
Biden Administration to Rebuild and Strengthen the Middle Class

"Yesterday's historic election of Senators Barack Obama and Joe Biden as our next President and Vice President was a true victory for every child, student, worker and family in America." -- Chairman Miller

In the next Congress, Chairman Miller intends to keep the committee focused on rebuilding and strengthening America's middle class, by creating jobs, improving public schools, making college more affordable, and protecting retirement savings. More »
 

Witnesses: Economy May Slip Into Deep Recession Without Action; PBGC Lost Nearly $5 Billion

The American economy could slip into a deeper recession unless immediate action is taken to stem the tide of rising unemployment and falling family incomes, witnesses told the Committee on October 24. More »

The U.S. Pension Benefit Guaranty Corporation’s investment losses now total almost $5 billion in fiscal year 2008. More »
 

Financial Crisis Deepening Retirement Insecurity

Witnesses told the Committee in an October 7 hearing that American workers have lost as much as $2 trillion in retirement savings over the last year – highlighting the devastating toll that the nation’s financial crisis is taking on their retirement plans. “Unlike Wall Street executives, American families don’t have a golden parachute to fall back on,” said Chairman George Miller. More »
 

Mental Health Treatment Measure Signed Into Law

A measure to ensure better access to treatment for people suffering from mental illnesses was signed into law as part of the financial rescue plan passed by the House on October 3. The legislation, previously passed as the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act (H.R. 6983), requires group health insurance plans that cover mental and addiction health benefits to put those benefits on equal footing with physical ailments. More »