III 

111TH CONGRESS 

1ST SESSION S. RES. 234 

Supporting the goals and ideals of National Save for Retirement Week 2009. 

IN THE SENATE OF THE UNITED STATES 

AUGUST 3, 2009 

Mr. CONRAD (for himself, Mr. ENZI, and Mr. CARDIN) submitted the following 

resolution; which was considered and agreed to 

RESOLUTION 

Supporting the goals and ideals of National Save for 

Retirement Week 2009. 

Whereas people in the United States 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 save for retirement, and that 

the actual amount of retirement savings of workers lags 


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•SRES 234 ATS 

far behind the amount that will be needed to adequately 

fund their retirement years; 

Whereas saving for retirement is a key component to overall 

financial health and security during retirement years; 

Whereas many workers may not be aware of retirement savings options, or may not have focused on the importance 

of, and need for, saving for retirement; 

Whereas many employees have access to defined benefit and 

defined contribution plans to help prepare for retirement, 

yet many may not take advantage of employer-sponsored 

defined contribution plans at all or to the full extent allowed by the plans under Federal law; 

Whereas many workers saving for retirement through taxpreferred savings plans have experienced declines in account values due to the recent economic downturn and 

market decline, making continued contributions all the 

more important; 

Whereas all workers, including public- and private-sector employees, employees of tax-exempt organizations, and selfemployed individuals, can benefit from the advantages of 

tax-preferred savings plans, and from increased awareness of the need to develop personal budgets, and financial plans; and 

Whereas October 18 through October 24, 2009, has been designated as ‘‘National Save for Retirement Week 2009’’: 

Now, therefore, be it 

1 Resolved, That the Senate— 

2 (1) supports the goals and ideals of National 

3 Save for Retirement Week 2009; 


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1 (2) supports efforts to raise public awareness of 

2 the need to use efficiently the substantial tax reve3 nues, estimated to exceed $127,000,000,000 for the 

4 fiscal year 2009 budget, that subsidize retirement 

5 savings; 

6 (3) supports efforts to raise public awareness of 

7 the importance of saving adequately for retirement 

8 and of the availability of tax-preferred employer9 sponsored retirement savings plans; and 

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

13 National Save for Retirement Week with appropriate 

14 programs and activities with the goal of increasing 

15 the retirement savings for all the people in the 

16 United States. 

Æ 


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