On Tuesday, July 20, 2010, the Health, Employment, Labor and Pensions Subcommittee of the Education and Labor Committee held a hearing on “Creating Greater Accounting Transparency for Pensioners”. The subcommittee explored the increasingly common practice of investing private sector pension funds in hedge funds and private equity funds, and assess if these pension plans receive adequate, transparent accounting information from these funds. The federal government does not specifically limit or monitor private sector pension investment in hedge funds or private equity.

The Health, Employment, Labor, and Pensions Subcommittee of the House Committee on Education and Labor held a hearing Wednesday to examine H.R. 3721, the Protecting Older Workers Against Discrimination Act. The legislation would restore civil rights protections for older workers stripped away by the U.S. Supreme Court’s 2009 decision, Gross v. FBL Financial. In Gross, the Supreme Court overturned well-established precedent – making it harder for older workers facing age discrimination to enforce their rights.

H.R. 3721 corrects the unnecessary lawmaking of the Supreme Court.  H.R. 3721 overturns Gross and restores the law to what it was prior to the decision, by allowing older workers to prove age discrimination by showing that age was a motivating factor in the decisions made by their employer, but not necessarily the sole factor.

Protections against age discrimination are especially important to workers who may be facing layoffs in an uncertain economic climate. The court’s ruling specifically means that victims of age discrimination face a higher legal burden of proof than those alleging race, sex, national origin or religious discrimination.

On Wednesday, March 10, the Health, Employment, Labor, and Pensions Subcommittee of the House Education and Labor Committee will hold a hearing to examine legislation that would extend the right to bargain collectively for better working conditions, wages, or benefits to public safety officers such as firefighters, law enforcement officers, and emergency medical services personnel. Only 25 states fully protect the right of state and local public safety employees to collectively bargain.

The Public Safety Employer-Employee Cooperation Act of 2009 would provide basic labor protections for state and local public safety workers. Identical legislation passed the House of Representatives in 2007 on a bipartisan vote of 314 to 97.

The Health, Employment, Labor and Pensions Subcommittee of the House Education and Labor Committee held a hearing on Wednesday, December 2 to examine how the 2005 bankruptcy of the automotive parts manufacturer Delphi has impacted workers and retirees.

The Health, Employment, Labor and Pensions Subcommittee of the House Education and Labor Committee held a hearing on Thursday, April 23 to examine various health care reform proposals that will guarantee quality and affordable health insurance coverage for all Americans.

The Health, Employment, Labor, and Pensions Subcommittee of the House Education and Labor Committee held a hearing on Wednesday, April 22 on legislation that will provide American workers with clear and complete information about Wall Street fees taken from their 401(k)-style accounts.

The 401(k) Fair Disclosure for Retirement Security Act of 2009 will help workers shop around for the best retirement options by requiring simple fee disclosure on the investment options contained in their employer’s 401(k) plan. Current law does not require all fees workers pay to be disclosed; and even for information that is available, it can be difficult for workers to find and evaluate.

The bill was introduced on Tuesday, April 21, 2009 by Rep. George Miller (D-CA), chairman of the full committee, and Rep. Rob Andrews (D-NJ), chairman of the subcommittee.

Hidden 401(k) fees were the subject of Sunday’s 60 Minutes and featured an interview with Rep. Miller. To watch the segment, click here.

The Health, Employment, Labor and Pensions Subcommittee of the House Education and Labor Committee will hold a hearing on the importance of ensuring that if workers receive investment advice, that it be independent and free of financial conflicts of interest.

In the last days of the Bush administration, the Department of Labor proposed to allow financial services firms to offer potentially conflicted investment advice on workers’ retirement accounts. For more information on this proposal, click here.

The Obama administration has slowed the consideration of this midnight rule.

The Health, Employment, Labor and Pensions Subcommittee of the House Education and Labor Committee will hold a hearing to examine ways to increase health care insurance coverage for Americans through their employer. While nearly 47 million Americans currently have no health insurance at all, more than 27 million of those uninsured have jobs.