Employers are not required to offer 401(k) accounts to theiremployees, and employees are not required to participate in them.Congress should react to the Enron case by promoting more educationfor Americans about retirement investing instead of trying tomicromanage their accounts.
A July 8 Treasury Department proposal addresses how best to measurepension plan funding, how to make it easier for workers and othersto determine whether their company's pension plan is at risk, andhow to prevent financially troubled companies from making promisesto their workers and then making taxpayers pay for them. Congressshould consider adding Treasury's proposed reforms to the finalversion of the Portman-Cardin bill (H.R.1776).