PO-917: Task Force Statement On Review of Retirement Benefit Rules And Protection



	FROM THE OFFICE OF PUBLIC AFFAIRS January 11, 2002 PO-917 TASK FORCE STATEMENT ON REVIEW OF RETIREMENT BENEFIT RULES AND PROTECTION Today, Treasury Secretary Paul O'Neill, Labor Secretary Elaine Chao, and Commerce Secretary Don Evans met to respond to the President's directive that they explore the rules, regulations and laws that govern pension plans and investment programs, such as 401(k)s, and determine whether changes should be made to further protect employees' retirement savings. They directed staff to immediately begin analyzing the effectiveness of retirement security protections "We will take the necessary steps to ensure appropriate protection for the retirement nest eggs of millions of Americans," stated Treasury Secretary Paul O'Neill. "We need to fully protect workers who depend on pensions and 401(k) plans for their retirement," stated Labor Secretary Elaine Chao. "Our number one priority is the security of the retirement savings of America's workers," stated Commerce Secretary Don Evans.