[Congressional Record Volume 159, Number 49 (Friday, April 12, 2013)]
[Extensions of Remarks]
[Pages E448-E449]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   NATIONAL RETIREMENT PLANNING WEEK

                                 ______
                                 

                       HON. EDDIE BERNICE JOHNSON

                                of texas

                    in the house of representatives

                         Friday, April 12, 2013

  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, I rise today in 
recognition of National Retirement Planning Week. National Retirement 
Planning Week is an important effort to get more Americans thinking 
about their long-term financial goals, and building toward a strong 
foundation for a financially secure future.
  The recent economic downturn illustrated how retirement planning for 
many in America

[[Page E449]]

is inadequate. Today, more than 70 million American workers do not have 
access or do not participate in any employer-based retirement benefits. 
Approximately 57 percent of American workers have less than $25,000 
saved for retirement, a figure that has increased from 49 percent since 
2008. As wages fail to keep up with inflation, millions of Americans 
are finding it increasingly difficult to put away toward their 
retirement--especially when it impacts their ability to meet the 
challenges of everyday living expenses.
  As we celebrate Financial Literacy Month this April, retirement 
planning and financial literacy have never been more relevant. That is 
why today I am introducing the National Financial Literacy Act of 2013, 
a bill that looks to promote increased understanding and awareness of 
the consequences of financial decisionmaking. Retirement planning is a 
chief component of our financial decisionmaking, and is critical to 
sustaining and growing the middle class.
  Mr. Speaker, as Members of Congress, we must continue to promote 
policies that will help educate future generations on the importance of 
retirement planning, while supporting critical federal programs such as 
Social Security. We must support American workers and educate 
individuals on the importance of working toward a stable and secure 
financial future.

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