The safeguards on retirement plans President Bush suggested while in Iowa last week -would- work, according to Iowa Senator Chuck Grassley, a republican. Grassley introduced a bill last month that would place new protections on 401-Ks and other corporate savings plans. Grassley says Bush’s proposal is similar.Grassley says his own legislation would end retirement plan abuse and create new shields to keep employee investments safe. He says the President’s plan would -not- prevent another Enron-style company collapse, but it would help prevent workers from losing all of their retirement savings.Grassley is the ranking republican on the Senate Finance Committee.
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