III 

110TH CONGRESS 

2D SESSION S. RES. 601 

Designating October 19 through October 25, 2008, as ‘‘National Save for 

Retirement Week’’. 

IN THE SENATE OF THE UNITED STATES 

JUNE 25, 2008 

Mr. SMITH (for himself and Mr. CONRAD) submitted the following resolution; 

which was referred to the Committee on the Judiciary 

SEPTEMBER 18 (legislative day, SEPTEMBER 17), 2008 

Committee discharged; considered and agreed to 

RESOLUTION 

Designating October 19 through October 25, 2008, as 

‘‘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


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SRES 601 ATS 

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; and 

Whereas all workers, including public- and private-sector employees, employees of tax-exempt organizations, and selfemployed individuals, can benefit from increased awareness of the need to save adequate funds for retirement 

and the availability of preferred savings vehicles to assist 

them in saving for retirement: Now, therefore, be it 

1 Resolved, That the Senate— 

2 (1) designates October 19 through October 25, 

3 2008, as ‘‘National Save for Retirement Week’’; 

4 (2) supports the goals and ideals of National 

5 Save for Retirement Week; 

6 (3) supports the need to raise public awareness 

7 of efficiently utilizing substantial tax revenues that 

8 currently subsidize retirement savings, revenues in 


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SRES 601 ATS 

1 excess of $170,000,000,000 for the fiscal year 2007 

2 budget; 

3 (4) supports the need to raise public awareness 

4 of the importance of saving adequately for retire5 ment and the availability of tax-preferred employer6 sponsored retirement savings vehicles; and 

7 (5) calls on States, localities, schools, univer8 sities, nonprofit organizations, businesses, other en9 tities, and the people of the United States to observe 

10 this week with appropriate programs and activities 

11 with the goal of increasing retirement savings for all 

12 the people of the United States. 

Æ 


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