[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 507 Introduced in House (IH)]







110th CONGRESS
  1st Session
H. RES. 507

 Supporting the goals and ideals of National Save for Retirement Week.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2007

 Ms. Schwartz (for herself and Mr. Sam Johnson of Texas) submitted the 
following resolution; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                               RESOLUTION


 
 Supporting the goals and ideals of National Save for Retirement Week.

Whereas Americans are living longer and the cost of retirement continues to 
        rise, in part because 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 will be needed to 
        adequately fund their retirement years;
Whereas many workers may not be aware of their options for saving for retirement 
        or may not have focused on the importance of, and need for, saving for 
        their own retirement;
Whereas many employees have available to them through their employers access to 
        defined benefit and defined contribution plans to assist them in 
        preparing for retirement, yet many of them may not be taking advantage 
        of employer-sponsored defined contribution plans at all or to the full 
        extent allowed by the plans as prescribed by Federal law;
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 adequate funds for 
        retirement and the availability of tax-preferred savings vehicles to 
        assist them in saving for retirement; and
Whereas October 21 through October 27, 2007, has been designated as ``National 
        Save for Retirement Week'': Now, therefore, be it
    Resolved,  That the House of Representatives--
            (1) supports the goals and ideals of National Save for 
        Retirement Week, including raising public awareness of the 
        importance to save adequately for their retirement and the 
        availability of employer-sponsored retirement savings vehicles; 
        and
            (2) calls on the States, localities, schools, universities, 
        nonprofit organizations, businesses, other entities, and the 
        people of the United States to observe this week with 
        appropriate programs and activities with the goal of increasing 
        the retirement savings for all the people of the United States.
                                 <all>