Press Releases

Today, Health, Employment, Labor, and Pensions Subcommittee Chairman Rick Allen (R-GA) delivered the following statement, as prepared for delivery, at a hearing titled "Examining the Policies and Priorities of the Employee Benefits Security Administration":

"Today’s hearing will examine the policies and priorities of the Employee Benefits Security Administration (EBSA) under the leadership of Assistant Secretary Daniel Aronowitz. The Committee is focused on protecting workers, lowering costs, and restoring accountability in our benefits system. Simply put: retirement and health benefits must actually work for American families. Today, we will hear about the ways the Trump administration is advancing these priorities.
 
"EBSA is responsible for regulating employer-provided benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). This includes the oversight of millions of retirement and health benefit plans covering 156 million Americans and holding approximately $14 trillion in assets. 
 
"The retirement savings that Americans have worked so hard for should never be put at risk by politically motivated mismanagement. Retirement plans should be about returns, not politics. The Trump administration has taken action to reverse harmful Biden-era policies so workers’ retirement savings are invested to prioritize maximum returns instead of notoriously underperforming political or social causes. My bill, the Protecting Prudent Investment of Retirement Savings Act, does exactly this, and I look forward to hearing what further action can be taken by EBSA.
 
"Too often, heath care prices are hidden from both patients and employers, making true competition impossible as costs soar. Competition is the only way to bring down costs. Worse, such high costs and regulatory burdens make it harder for employers to offer competitive health care to their employees. Employers should have access to health plan data so they can design plans that meet employee needs while lowering health care costs. This Committee will continue to prioritize legislation that expands health care and billing transparency and ends abusive pricing and kickback schemes while working to expand access to high-quality, affordable health care benefits.
 
"Finally, we must reign in burdensome and costly investigations. While oversight of employee benefit plans is necessary, it must be targeted, efficient, and focused on real violations. Under the Biden administration, EBSA abused its authority by conducting lengthy and aimless investigations paid for by taxpayers and employers. This Committee has advanced legislation targeting this very problem, and I look forward to hearing what steps the Trump administration is taking to end these frivolous investigations. 
 
"Mr. Aronowitz, you have been a leader in employee benefits plan management for decades. I look forward to hearing from you about the work EBSA has done to protect workers’ health and retirement plans and ensure these benefits actually work for American families."

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