prevent tax prep from having to pay and other ane $700 billion in bailouts, congress must show up the pbgc and apply the same funding rules to union pensions as a dusty nonunion pensions. social security and union pensions are anything but secure. the last thing that americans need is for lawmakers to try to put more of their retirement savings into accounts that they need their own or control and which are managed by groups of people who repeatedly put own personal incentives about workers. to help improve this type of cybersecurity financial americans colluding younger workers who face the greatest financial struggles today, policymakers should enact universal savings accounts so that it is simpler and easier for americans to save for all types of expected and unexpected life events. thank you. >> thank you very much. first, ms. greszler, you almost nailed your five minutes. i must compliment you. now i have the pleasure to introduce mr. eric stevenson, the president of retirement solutions at nationwide come bring you more than 17 years of experience having joined nationwide in 2006. he

that those two million, the failure of those pension plans would drive down the funding levels of pbgc. so others who had pensions that weren't necessarily protected are going to end up protected as well. mr. chair, you probably felt the same way. there can be frustrating days around here and three times i've been here where something happened by one vote, saving the affordable care act happened by one vote. american rescue plan, two million workers pensions happened by one vote, the inflation reduction act, cutting prescription drug costs and advancing a clean energy economy happened by one vote. there are some days you wonder why you're here, on the days when something happens by one vote, you think wow, i'm glad to seek office and be in this place. sometimes it's one person standing up. items i'm working on with the senator, auto reenrollment. we have the auto reenroll bill that would periodically sweep people in and enroll in their company's plans and give them the ability to opt out. similar to health insurance. we're every year jogging you about health insurance and making you th

because it i is less likely those failure of those pension plans would drive down the funding levels of pbgcnd others who have pensions that were not necessary protected are p going to end up more protected as well. so mr. chair and know you probably felt the same way. there can be a lot of frustrating days around here. there were three times when i have been her and something's happened by one vote saving the affordable care act happened by one about the american rescue plan 2 million workers pensions happened by oners vote. inflation reduction act cutting prescription drug costs and advancing clean energy economy happened by one vote.ne there are some days you wonder why you are here right on the day something happens by one vote you think wow i'm really glad i decided to seek office and be in this place. sometimes it is about one person standing up for a couple items i want to emphasize and these are some items and work with senator cassidy. first is auto enrollment, auto reenrollment. we have and re- enroll bill that periodically sweet people in have them enroll in their company's plans