Washington, D.C.
October 31, 2023
The promise of a good job and a secure retirement gives families – as President Biden often says – “a little breathing room.”
In President Biden’s America, we are doing everything we can to make good on that promise.
Today, this Administration takes another step to help Americans save for a secure, dignified retirement.
This builds on other steps we’ve taken, which are making a real difference for millions of families across the country.
For example, the Butch Lewis pension relief program is shoring up financially troubled multiemployer pension plans… and helping millions of union workers and retirees get the pensions they’ve earned.
Last year, our work put almost $1.2 billion in retirement money back in people’s pockets.
We’re implementing legislation Congress passed last year to transform the retirement system.
And as part of that, we’re making sure workers don’t lose money when they leave a job and enroll in their new employer’s 401(k) plan.
And today’s announcement by the President is a significant step to get junk fees out of the retirement savings market.
Retirement funds are often the largest savings that people have.
They deserve to know that their financial advisers are giving them trustworthy advice… and that the investment savings they’ve worked so hard to build, little by little, paycheck by paycheck, year after year, aren’t being eaten away by junk fees.
Under President Biden's leadership, we are making sure that that money stays in the pockets of hard-working Americans.
This is a priority for workers. It’s a priority for me. And it’s long been a priority for our President, who always has American workers’ backs.
And now I’m happy to hand it over to CEO of AARP Jo Ann Jenkins.