Posted on 10/26/2002 6:11:51 AM PDT by BigWaveBetty
President Takes Action to Protect Pensions and Retirement Security for All Americans
Presidential Action
President Bush believes that economic freedom is essential to individual success and prosperity. The President's economic agenda invests in individuals by creating jobs, expanding opportunities to save and invest, providing a good education, and helping each American own part of the American dream.
An important component of the President's economic security agenda is providing American workers and retirees new tools to protect their pensions, investments, and retirement security.
In his radio address, the President will announce the implementation of rules that require workers to receive a 30-day notification before any "blackout" restrictions are placed on their 401(k) plans.
On October 21, 2002, the Department of Labor will issue regulations implementing the new notice provisions, providing important protections to workers and retirees with investments in 401(k) plans. The regulations provide both interim-final rules and a model notice to assist plans in carrying out their responsibilities. Under the new rules:
Workers will receive notice 30 days before any restrictions are placed on their ability to direct investments, take loans, or obtain distributions from their 401(k) plans.
Companies with employer stock in their 401(k) plan will receive the same notice so corporate insiders will know they cannot sell stock in the company or exercise stock options when the workers in the 401(k) plan are restricted from doing so.
The notice to employees must include the reasons for the blackout period; its beginning and ending date; and, if the ability to direct investments is suspended, a statement that participants should evaluate their current investments in light of their inability to direct or diversify assets during the blackout period.
Failure or refusal to provide the required notice will result in a civil penalty.
The rule will be effective on the earliest possible date under the statute, January 26, 2003 (180 days after enactment of the Sarbanes-Oxley legislation). The Securities and Exchange Commission is also working on a new rule scheduled to take effect early next year that will bar corporate executives from trading their stock when their rank and file workers are prevented from selling theirs.
Unfinished Business
The President has proposed other important, commonsense proposals to help protect the retirement savings of American workers:
Allowing workers to diversify their investments in employer stock after three years.
Providing workers quarterly benefit statements that explain the value of diversified investments.
Giving workers better access to much-needed investment advice from professional advisers acting in the workers' best interest. These remaining provisions passed the House of Representatives on April 11, 2002. Unfortunately, the Senate has failed to act on these important initiatives.
To learn more about the President's comprehensive economic security and corporate accountability agenda please visit www.whitehouse.gov
Click link to see GOP response to dim Social Security cartoon.
President Bush (news - web sites) acknowledges a supporter while stumping for Republican candidates in Arizona at a 'Get-out-and-vote' rally Sunday, Oct. 27, 2002 in Phoenix. Bush was campaigning for gubernatorial candidate Matt Salmon and U.S. Representitive Rick Renzi while encouraging voters to cast their ballot on election day. At rear is Cindy McCain, wife of U.S. Sen. John McCain (news, bio, voting record).(AP Photo/Matt York)
While our president is a very good looking man, when he wears these silly costumes for those summits he doesn't look nearly as good as when he wears a suit. JMHO
President Bush (news - web sites), wearing a traditional Guayabera shirt, waves as he walks away after posing with representatives of the 21 nations of the Asia Pacific Economic Cooperation (news - web sites) (APEC) for a group photo during the two-day summit in Cabo San Lucas, Mexico, Sunday, Oct. 27, 2002. (AP Photo/J. Scott Applewhite)
Thought you all might enjoy this piece of news since hilly, billy and McAwful are so bent (pardon the pun) on ousting Gov. Bush from the gov.'s mansion.
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With just over one week until Election Day, Gov. Jeb Bush has secured the endorsement of three of the state's biggest newspapers.
Bush was endorsed by the Orlando Sentinel (aka the Slantnel, more on that below), Miami Herald, and Tampa Tribune (I believe this is McBride's home town paper), WESH NewsChannel 2 reported.
Just one week ago, McBride got the nod from the St. Petersburg Times, Daytona Beach News-Journal and Tallahassee Democrat.
Bush is also scoring points at the polls. The Herald said Bush is ahead by eight points, 51 to 43 percent for McBride, a slightly larger lead than before the debate.
McBride said he's optimistic that the governor's race is still too close to call, and the recent newspaper endorsements reflect how close the vote will be.
"They're all balancing out. The best I can tell, it's sort of reflective of where the campaign is right now. It's a close campaign, and it will be decided on turnout," McBride said.
A University of Central Florida political scientist said Bush's endorsements in the Sentinel and Tribune show McBride is failing to sway undecided voters in the critical I-4 corridor.
Bush spent Sunday stumping for votes in South Florida. After a church service, Bush credited the positive poll numbers to McBride's showing in last week's debate and recent ads painting McBride as a tax-and-spend liberal.
The Slantnel's endorsement was pretty back handed. After I read it my thought was, with endorsements like this who needs McBride attack ads. Here are a few excerpts, there's no link because the Slantnel has not put it on their website yet.
Both candidates certainly have noble aspirations. And if the governor's race were about likability, Mr. McBride would win hands down. Mr. Bush's four years in the governor's mansion have resembled an imperial reign, with Mr. Bush managing state affairs like an overbearing, arrogant potentate impervious to critcism and public input. [snip]
Many Floridians, clearly are not happy with the governor's track record. And for good reason.
In four years as governor, for example, Mr. Bush consistently has supported bills to keep public business hidden from taxpayer scrutiny. He has squandered billions of dollars on questionable tax cut to support his affluent cronies. He has refused to even consider a wholesale review of special-interest tax exemptions routinely granted by the Legislature. The state angency assigned to protect abused and neglected children - a top priority during his 1998 campaign - is in shambles. And the state's financial outlook remains tipsy.
If Mr. Bush has any hope of a future legacy, he must shed the aristocratic airs of his first term and invite all Floridians to participate in the government that they finance. As this newspaper opined in 1998, Mr. Bush has trememdous potential. He has the vision and he has the skills to be a man of true compassion. The governor's challenge is to put those skills to good use.
In the Nov. 5 gubernatioral election, the Sentinel endorses Jeb Bush.
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They just gush over McBride while admitting he's just not up to the job. Sheesh!
This is McBride's signature hand gesture. It drove me batty watching it through all three debates. I wonder who he subconsciously wants to strangle?
JL, not even a coat and tie could help this turd.
Florida Democratic gubernatorial candidate Bill McBride addresses a luncheon gathering at the Queen Bee's restaurant in Orlando, Fla. Sunday, Oct. 27, 2002. A 'Boo Bush' sign is part of the Halloween decorations at the restaurant. (AP Photo/Peter Cosgrove)
Florida gubernatorial candidate, incumbent Republican Jeb Bush, arrives for his debate with Democratic challenger Bill McBride in Jacksonville, Florida, September 27, 2002. A recent poll showed the gap narrowing between the candidates. REUTERS/Charles W Luzier
In my best sarcastic tone: Good thing this race isn't about good looks, Jeb would win hands down.
JL, if you're trying to say that GWB looks better in a silly AyeCarumba shirt than whatshisgut in a coat, you're right on the money!
President George W. Bush (news - web sites) and his wife Laura attend a dinner at the Asia Pacific Economic Cooperation (news - web sites) (APEC) in Cabo San Lucas, Mex. on Saturday, Oct. 26, 2002. (AP Photo/Laura Rauch)
Hey, could y'all freep this poll for us FL freepers?
They only let you vote once, how undemocrat of them.
You are talking to a full fledged freeper today!
I went to my very first rally on Saturday in DC at the Patriot's rally.
I'm planning to write about my experiance at my first "freep" in a comentary like I did with the 9/11 commentary.
But I'll tell you some of it.
I rode with Sauropod and KLT to DC. We were on the grounds of the Washington monument. It was a nice day not too cold and not too hot. It started out cloudy bur the sun did come out at one point.
I really didn't know what to expect as this was the first time I was at a rally like this, It was a counter protest to those who were opposing war with Iraq.
Kristinn was the one who set everything up, he is the head of the DC chapter, I beleave, him and Angelwood.
Congressman BillyBob was one of the speakers. They were great. The highlight in my opinion was the arrival of the Iraqi exiles that came to Washington to protest against Saddam Hussein. Dave Dilegge invited them to join us. C-span was taping this but we were on tape delay so we were'nt shown on tv till 1AM! (IDIOTS)
If there is anything that decided me about being for a war with Iraq, it was those brave Iraqi men and women who, I'm sure still had family members in Iraq. I am pro-life and I found it strange that I was also calling for Saddam's death!
When the rally was over some of us planned to go to Luigi's in DC for a bite to eat. We were supposed to meet there at 4:00 but those idiot libs had other plans! They had decided to march down the same street that we were parked on, so, the park police had to close the street so we could not leave for about two hours.
Dave Dilegge also had his pickup parked not far from our car so 'POD, KLT and I went over and stayed in the back of the pickup just watching the creeps go by!
we christened the truck "Dave's Deck"
It was an experiance!
Hey, isn't it going to be your birthday soon, on the 30th?
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