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NEW: Government Watchdog Report Highlights Importance of Monitoring and Improving Americans' 403(b) Retirement Plans

Press Release

Date: July 24, 2023
Location: Washington, DC
Issues: Senior Citizens Employment and Affirmative Action

"Teachers, school personnel, non-profit employees, and other workers rely on 403(b) plans for a secure retirement. Today's GAO report underscores the need for the Department of Labor to effectively monitor the 403(b) plans within their purview and highlights innovative ideas and state efforts to improve 403(b) plans. Unfortunately, House Republicans are advancing a bill that slashes the budget of the Labor Department's Employee Benefits Security Administration, which is responsible for conducting critical oversight of 403(b) plans. We must reject these cuts, carefully consider ideas to improve 403(b) plans, and work together to protect Americans' hard-earned retirement savings."


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