IV 

110TH CONGRESS 

2D SESSION H. RES. 1294 

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

IN THE HOUSE OF REPRESENTATIVES 

JUNE 23, 2008 

Ms. SCHWARTZ (for herself and Mr. SAM JOHNSON of Texas) submitted the 

following resolution; which was referred to the Committee on Ways and Means 

RESOLUTION 

Supporting the goals and ideals of 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

of workers or their spouses are currently saving for retirement and that the actual amount of retirement savVerDate Aug 31 2005 00:54 Jun 24, 2008 Jkt 069200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6300 E:\BILLS\HR1294.IH HR1294

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•HRES 1294 IH 

ings 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; 

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 tax-preferred savings vehicles to 

assist them in saving for retirement; and 

Whereas October 19 through October 25, 2008, has been designated as ‘‘National Save for Retirement Week’’: Now, 

therefore, be it 

1 Resolved, That the House of Representatives— 

2 (1) supports the goals and ideals of National 

3 Save for Retirement Week, including raising public 

4 awareness of the various tax-preferred retirement ve5 hicles; 

6 (2) supports the need to raise public awareness 

7 of efficiently utilizing substantial tax revenues that 


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1 currently subsidize retirement savings, revenues in 

2 excess of $170,000,000,000 for the 2007 Fiscal 

3 Year Budget; 

4 (3) supports the need to raise public awareness 

5 of the importance to save adequately for retirement 

6 and the availability of tax-preferred employer-spon7 sored retirement savings vehicles; and 

8 (4) calls on the States, localities, schools, uni9 versities, nonprofit organizations, businesses, other 

10 entities, and the people of the United States to ob11 serve this week with appropriate programs and ac12 tivities with the goal of increasing the retirement 

13 savings for all the people of the United States. 

Æ 


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