House Subcommittee Considers The 401(k) Way

March 27, 2009 ( - Another U.S. House Subcommittee is gearing up to consider the impact of the financial crisis on retirement security.

Update:  According to a notice on the committee website, the hearing has been postponed until further notice.

House Ways and Means Select Revenue Measures Subcommittee Chairman Richard E. Neal (D-Massachusetts) has announced that the Subcommittee on Select Revenue Measures will hold the hearing on Thursday, April 2, 2009, in the main Committee hearing room, 1100 Longworth House Office Building, beginning at 10:00 a.m.   The session is titled Hearing on the Financial Crisis and Retirement Security: the 401(k) Way.

Oral testimony at this hearing will be limited to invited witnesses, but individuals or organizations not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing, according to the announcement.

Earlier this year the House Education and Labor Committee reinstituted hearings with a similar focus (see  House Committee Advised not to Scare Participants ).   That committee, chaired by Congressman George Miller (D-California), had launched a series of hearings last fall (see  Congress Considers Market Impact on Retirement Security ) – hearings that, following testimony from Dr. Teresa Ghilarducci, triggered concerns that the hearings were laying the groundwork for a campaign to undermine the availability or tax benefits of the 401(k) (see ” The Plot to Kill the 401(k) “).