On January 7, 2026, Nari Rhee testified at the U.S. House Subcommittee on Health, Employment, Labor, and Pensions hearing on “Modernizing Retirement Policy for Today’s Workforce.”

Rhee painted a sobering picture of the retirement future facing the nation’s workers. The current system, she said, is leaving the majority of workers behind. For example, nearly half of all U.S. workers are not covered by a job-based retirement plan. A large majority of working-age households in the U.S. face a significant retirement savings shortfall, with stagnant wage growth over decades contributing to the crisis. She highlighted the need to safeguard Social Security, which is the primary defense against poverty for American workers.

The Subcommittee discussed insurance industry proposals to further expand annuity products as part of 401(k) plans. Rhee’s testimony underscores the importance of guardrails to protect workers against excessive fees and other potential pitfalls with annuities, and disclosures that allow workers to make informed decisions.

This is a reformatted version of the official written testimony she submitted to the subcommittee.

Download the testimony.

Download the written response to follow-up questions (February 24, 2026)