IV 

110TH CONGRESS 

1ST SESSION H. RES. 513 

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

IN THE HOUSE OF REPRESENTATIVES 

JUNE 25, 2007 

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

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

JUNE 25, 2007 

The Committee on Ways and Means discharged; considered and agreed to 

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


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•HRES 513 ATH 

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; 

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 21 through October 27, 2007, 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; 


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•HRES 513 ATH 

1 (2) supports the need to raise public awareness 

2 of efficiently utilizing substantial tax revenues that 

3 currently subsidize retirement savings, revenues in 

4 excess of $125,000,000,000 as of the 2006 Fiscal 

5 Year Budget; 

6 (3) supports the need to raise public awareness 

7 of the importance to save adequately for retirement 

8 and the availability of tax-preferred employer-spon9 sored retirement savings vehicles; and 

10 (4) calls on the States, localities, schools, uni11 versities, nonprofit organizations, businesses, other 

12 entities, and the people of the United States to ob13 serve this week with appropriate programs and ac14 tivities with the goal of increasing the retirement 

15 savings for all the people of the United States. 

Æ 


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