[Congressional Record Volume 162, Number 99 (Tuesday, June 21, 2016)]
[Senate]
[Page S4412]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. WARREN (for herself and Mr. Daines):
  S. 3078. A bill to increase portability of and access to retirement 
savings, and for other purposes; to the Committee on Finance.
  Mr. DAINES. Mr. President, today Senator Warren and I have joined 
together to introduce the Retirement Savings Lost and Found Act. This 
important piece of legislation is critical to addressing key issues 
that exist in the regulatory framework for retirement plans.
  Montanans are conservative folks who know the value of a hard-earned 
dollar. With the poor economic recovery and slow wage growth, working 
Montanans cannot afford to have money withheld from their paychecks and 
placed into retirement accounts, only to lose track of those accounts 
or have their retirement plans decline over time due to limitations 
placed on investment options. Now more than ever, our country needs the 
best laws to usher everyday Americans into a sound retirement.
  Working Americans are losing hard-earned dollars up until the time 
when they need it most--their retirement. When an employee leaves a 
job, it is often hard for them to keep track of their retirement 
accounts during these transitional times. Our bill is a commonsense 
approach that will empower individuals to take control of their 
retirement futures. The Retirement Savings Lost and Found Act will 
allow Montanans to be that much more prepared to spend their golden 
years well with friends and family by providing a means to locate lost 
retirement accounts and allow better investment options to ensure those 
investments grow rather than erode over time.
  I appreciate the work of Senator Warren on completion of this 
important bill. Together, we can help individuals make the most of 
their retirement options by providing sound policy that has the 
potential to save billions over the years for those among us who need 
it most
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