III 

116TH CONGRESS 

1ST SESSION S. RES. 380 

Supporting the goals and ideals of National Retirement Security Week, including raising public awareness of the various tax-preferred retirement vehicles, increasing personal financial literacy, and engaging the people of 

the United States on the keys to success in achieving and maintaining 

retirement security throughout their lifetimes. 

IN THE SENATE OF THE UNITED STATES 

OCTOBER 24, 2019 

Mr. ENZI (for himself, Mr. CARDIN, Mr. ALEXANDER, Ms. HASSAN, Mr. 

YOUNG, Mr. JONES, Ms. COLLINS, and Mrs. MURRAY) submitted the following resolution; which was considered and agreed to 

RESOLUTION 

Supporting the goals and ideals of National Retirement Security Week, including raising public awareness of the various tax-preferred retirement vehicles, increasing personal 

financial literacy, and engaging the people of the United 

States on the keys to success in achieving and maintaining retirement security throughout their lifetimes. 

Whereas people in the United States are living longer and the 

cost of retirement is increasing significantly; 

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; 


pamtmann on DSKBC07HB2PROD with BILLS
2 

•SRES 380 ATS 

Whereas recent data from the Employee Benefit Research Institute indicates that, in the United States— 

(1) 40.6 percent of households in which the head of 

household is between the ages of 35 and 64 are likely to 

run out of money in retirement; and 

(2) the amount that workers have saved for retirement is much less than the amount those workers need 

to adequately fund their retirement years; 

Whereas the financial literacy of workers in the United 

States is important so that those workers understand the 

need to save for retirement; 

Whereas saving for retirement is a key component of overall 

financial health and security during retirement years and 

the importance of financial literacy in planning for retirement must be advocated; 

Whereas many workers may not— 

(1) be aware of the various options in saving for retirement; or 

(2) have focused on the importance of, and need for, 

saving for retirement and successfully achieving retirement security; 

Whereas, although many employees have access through their 

employers to defined benefit and defined contribution 

plans to assist the employees in preparing for retirement, 

many of those employees may not be taking advantage of 

those plans at all or to the full extent allowed by Federal 

law; 

Whereas saving for retirement is necessary even during economic downturns or market declines, which makes continued contributions all the more important; 


pamtmann on DSKBC07HB2PROD with BILLS
3 

•SRES 380 ATS 

Whereas all workers, including public and private sector employees, employees of tax-exempt organizations, and selfemployed individuals, can benefit from developing personal budgets and financial plans that include retirement 

savings strategies that take advantage of tax-preferred 

retirement savings vehicles; 

Whereas effectively and sustainably withdrawing retirement 

resources throughout the retirement years of an individual is as important and crucial as saving and accumulating funds for retirement; and 

Whereas the week of October 20 through October 26, 2019, 

has been designated as ‘‘National Retirement Security 

Week’’: Now, therefore, be it 

1 Resolved, That the Senate— 

2 (1) supports the goals and ideals of National 

3 Retirement Security Week, including raising public 

4 awareness of the importance of saving adequately for 

5 retirement; 

6 (2) acknowledges the need to raise public 

7 awareness of a variety of tax-preferred retirement 

8 vehicles that are used by many people in the United 

9 States but could be used by more; and 

10 (3) calls on States, localities, schools, univer11 sities, nonprofit organizations, businesses, other en12 tities, and the people of the United States to observe 

13 National Retirement Security Week with appropriate 

14 programs and activities, with the goal of increasing 

15 the retirement savings and personal financial litVerDate Sep 11 2014 23:20 Oct 24, 2019 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\SR380.ATS SR380

pamtmann on DSKBC07HB2PROD with BILLS
4 

•SRES 380 ATS 

1 eracy of all people in the United States, thereby en2 hancing the retirement security of the people of the 

3 United States. 

Æ 


pamtmann on DSKBC07HB2PROD with BILLS