[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 234 Agreed to Senate (ATS)]

111th CONGRESS
  1st Session
S. RES. 234

 Supporting the goals and ideals of National Save for Retirement Week 
                                 2009.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 3, 2009

   Mr. Conrad (for himself, Mr. Enzi, and Mr. Cardin) submitted the 
        following resolution; which was considered and agreed to

_______________________________________________________________________

                               RESOLUTION


 
 Supporting the goals and ideals of National Save for Retirement Week 
                                 2009.

Whereas people in the United States 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 save 
        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 saving for retirement is a key component to overall financial health and 
        security during retirement years;
Whereas many workers may not be aware of retirement savings options, or may not 
        have focused on the importance of, and need for, saving for retirement;
Whereas many employees have access to defined benefit and defined contribution 
        plans to help prepare for retirement, yet many may not take advantage of 
        employer-sponsored defined contribution plans at all or to the full 
        extent allowed by the plans under Federal law;
Whereas many workers saving for retirement through tax-preferred savings plans 
        have experienced declines in account values due to the recent economic 
        downturn and market decline, making continued contributions all the more 
        important;
Whereas all workers, including public- and private-sector employees, employees 
        of tax-exempt organizations, and self-employed individuals, can benefit 
        from the advantages of tax-preferred savings plans, and from increased 
        awareness of the need to develop personal budgets, and financial plans; 
        and
Whereas October 18 through October 24, 2009, has been designated as ``National 
        Save for Retirement Week 2009'': Now, therefore, be it
    Resolved, That the Senate--
            (1) supports the goals and ideals of National Save for 
        Retirement Week 2009;
            (2) supports efforts to raise public awareness of the need 
        to use efficiently the substantial tax revenues, estimated to 
        exceed $127,000,000,000 for the fiscal year 2009 budget, that 
        subsidize retirement savings;
            (3) supports efforts to raise public awareness of the 
        importance of saving adequately for retirement and of the 
        availability of tax-preferred employer-sponsored retirement 
        savings plans; and
            (4) calls on States, localities, schools, universities, 
        nonprofit organizations, businesses, other entities, and the 
        people of the United States to observe National Save for 
        Retirement Week with appropriate programs and activities with 
        the goal of increasing the retirement savings for all the 
        people in the United States.
                                 <all>