Grassley looks to create protection for retirement accounts

Americans taking part in company retirement plans would see new protections under a bill being introduced today by Iowa Senator Chuck Grassley. He says the legislation would end retirement plan abuse and create new shields to keep employee investments safe. The goal is to make sure corporate missteps, like we’ve seen with Enron, aren’t allowed to fester, especially when it comes to protecting workers’ pensions. Grassley is the ranking republican on the Senate Finance Committee. Retirement plans get favored treatment under the federal tax code. Grassley says the Finance Committee has the primary responsibility, under its jurisdiction, for making sure retirement plans comply with the tax code and other laws.