What: All Issues : Labor Rights : Pension Protections : HR 3762. Pension Reform/Vote to Recommit to Committee a Bill Which Allowed Executives to Own a Greater Share of Pension Money and Required the Diversification of Employee Pension Plans. (2002 house Roll Call 91)
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HR 3762. Pension Reform/Vote to Recommit to Committee a Bill Which Allowed Executives to Own a Greater Share of Pension Money and Required the Diversification of Employee Pension Plans.
house Roll Call 91     Apr 11, 2002
Progressive Position:
Yea
Progressive Result:
Loss

After the scandals at Enron and other companieswhere employees locked into pension plans could only watch as their retirement savings disappeared along with the company's stock price-pension reform became popular on Capitol Hill. Republicans proposed a reform bill that made it easier for employees to diversify their portfolios, and that required employers to provide their employees with outside investment advice. Progressives and Democrats in general supported the principle of this bill, but felt it missed opportunities to do more. Miller (D-CA) moved to recommit (send back) the bill to the committee that drafted it with instructions to add a provision making executive pay subject to bankruptcy proceedings. Progressives voted for this motion, but it was rejected 204-212.

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