[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 550 Introduced in Senate (IS)]








109th CONGRESS
  2d Session
S. RES. 550

Designating October 22 through October 28, 2006, as ``National Save for 
                           Retirement Week''.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 3, 2006

    Mr. Smith (for himself and Mr. Conrad) submitted the following 
    resolution; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                               RESOLUTION


 
Designating October 22 through October 28, 2006, as ``National Save for 
                           Retirement Week''.

Whereas the cost of retirement continues to rise, in part, because people in the 
        United States are living longer than ever before, the number of 
        employers providing retiree health coverage continues to decline, and 
        retiree health care costs continue to increase at a rapid pace;
Whereas Social Security remains the bedrock of retirement income for the great 
        majority of the people of the United States, but was never intended by 
        Congress to be the sole source of retirement income for families;
Whereas recent data from the Employee Benefit Research Institute indicates that, 
        in the United States, less than \2/3\ of workers or their spouses are 
        currently saving for retirement and that the actual amount of retirement 
        savings of workers lags far behind the amount that is realistically 
        needed to adequately fund retirement;
Whereas many employees have available to them through their employers access to 
        defined benefit or defined contribution plans to assist them in 
        preparing for retirement;
Whereas many employees may not be aware of their retirement savings options and 
        may not have focused on the importance of and need for saving for their 
        own retirement;
Whereas many employees may not be taking advantage of workplace defined 
        contribution plans at all or to the full extent allowed by the plans or 
        under Federal law; and
Whereas all workers, including public- and private-sector employees, employees 
        of tax-exempt organizations, and self-employed individuals, can benefit 
        from increased awareness of the need to save for retirement and the 
        availability of tax-advantaged retirement savings vehicles to assist 
        them in saving for retirement: Now, therefore, be it
    Resolved, That the Senate--
            (1) designates October 22 through October 28, 2006, as 
        ``National Save for Retirement Week'';
            (2) supports the goals and ideals of National Save for 
        Retirement Week, including raising public awareness about the 
        importance of adequate retirement savings and the availability 
        of employer-sponsored retirement plans; and
            (3) calls on the Federal Government, States, localities, 
        schools, nonprofit organizations, businesses, other entities, 
        and the people of the United States to observe the week with 
        appropriate programs and activities with the goal of increasing 
        the retirement savings of all the people of the United States.
                                 <all>