[Congressional Record Volume 168, Number 107 (Thursday, June 23, 2022)]
[Senate]
[Page S3167]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




SENATE RESOLUTION 695--DESIGNATING JUNE AS ``NATIONAL ANNUITY AWARENESS 
                                MONTH''

  Mr. MORAN (for himself and Mr. Grassley) submitted the following 
resolution; which was referred to the Committee on the Judiciary:

                              S. Res. 695

       Whereas annuities provide a predictable way to meet 
     immediate, ongoing, and future financial obligations and 
     objectives in retirement;
       Whereas surveys consistently indicate that the vast 
     majority of individuals in the United States are looking for 
     a financial solution that provides the benefits offered by 
     annuities, specifically the ability to address the critical 
     concern of running out of money during retirement;
       Whereas outliving retirement savings can--
       (1) create a financial hardship that reduces the standard 
     of living in retirement;
       (2) defeat the fulfillment of legacy goals; and
       (3) require dependence on family and friends for monetary 
     support;
       Whereas millions of individuals in the United States 
     currently lack an adequate level of guaranteed income in 
     retirement to ensure a secure financial future for themselves 
     and their loved ones;
       Whereas research indicates that an owner of an annuity has 
     a higher confidence in overall retirement readiness;
       Whereas an annuity is the only product in the financial 
     marketplace that can provide guaranteed lifetime income;
       Whereas determining the type of annuity to buy and when to 
     take income is one of the most important financial decisions 
     a consumer will ever make, and individuals and families can 
     benefit greatly from the expert guidance of a financial 
     professional; and
       Whereas numerous stakeholders who support annuities have 
     designated June as ``National Annuity Awareness Month'', the 
     goals of which are--
       (1) to educate consumers on annuity benefits;
       (2) to support access to annuities to meet the individual 
     financial goals of consumers; and
       (3) to encourage savers to seek professional guidance to 
     implement annuities effectively in income and legacy 
     planning: Now, therefore, be it
       Resolved, That the Senate--
       (1) designates June as ``National Annuity Awareness 
     Month''; and
       (2) calls on the United States Government, the States, 
     localities, schools, nonprofit organizations, businesses, and 
     the people of the United States to observe National Annuity 
     Awareness Month with appropriate programs and activities.

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