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August 18, 2006

Bush Signs A Law

Just like in School House Rock, every now and a again a good bill gets signed into law, and we all cheer.

President Bush signed into law yesterday a bill that reforms our nation's pension laws and shores up retirement accounts.

The new law will force most private employers that provide traditional pensions to their workers to pump tens of billions of dollars more into those systems over seven years while making it easier to expand 401(k) and IRA retirement plans. But the law cuts a break to the financially troubled airline industry, where the pensions of tens of thousands of workers have been endangered.

Okay, I'm concerned about the break for the airline industry, but overall this is a strong bill and one that we should be happy made it through the process.

It even strengthens the rollover of retirement plans to non-spouses.

How bout that? The Do Nothing Congress actually did something. Took them years to get it done, but hey, I'm going to be pollyannish about this.

Considering how bad everything else is with this administration, I'll take the crumbs I can get.

Posted by Alan at August 18, 2006 05:19 AM