IV 

112TH CONGRESS 

2D SESSION H. CON. RES. 101 

Expressing the sense of the Congress that our current tax incentives for 

retirement savings provide important benefits to Americans to help plan 

for a financially secure retirement. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 16, 2012 

Mr. GERLACH (for himself, Mr. NEAL, Mr. BUCHANAN, Mrs. BIGGERT, Mr. 

SAM JOHNSON of Texas, Mr. ROYCE, Mr. PAUL, Mr. SCHOCK, Mr. 

PLATTS, Mr. HERGER, Mr. TIBERI, Mr. BILBRAY, Mr. PAULSEN, Ms. 

JENKINS, Mr. WALBERG, Mr. WESTMORELAND, Mr. JONES, Mr. 

HUIZENGA of Michigan, Mr. LOBIONDO, Mr. FITZPATRICK, Mr. TURNER

of Ohio, Mr. GARY G. MILLER of California, Mr. STIVERS, Mr. BISHOP

of Utah, Mr. PITTS, Mr. WILSON of South Carolina, Mrs. BLACK, Mr. 

LATHAM, Mr. GUINTA, Mr. AUSTRIA, Mr. KING of Iowa, Mr. NUNES, Mr. 

CHAFFETZ, Mr. MURPHY of Connecticut, Mr. REICHERT, Mr. DAVIS of 

Kentucky, Mr. MARCHANT, Mr. GUTHRIE, Mr. LUETKEMEYER, Mr. 

TERRY, Mr. NEUGEBAUER, Mr. LEWIS of California, Mrs. CAPITO, Mr. 

CHABOT, Mr. MEEHAN, Mr. BOUSTANY, Mr. THOMPSON of Pennsylvania, 

Mr. PRICE of Georgia, Mr. DENT, Mr. MCCOTTER, Mr. BASS of New 

Hampshire, Mr. MILLER of Florida, Mr. DUNCAN of South Carolina, Mr. 

STUTZMAN, Mr. AKIN, Mr. LATTA, Mr. SCOTT of South Carolina, Mr. 

MCKEON, Ms. BERKLEY, Mr. LARSON of Connecticut, Mr. RANGEL, Mr. 

LEWIS of Georgia, Mr. KIND, Mr. CICILLINE, Mr. LANGEVIN, Mr. 

WELCH, Mr. MICHAUD, Mr. STARK, Mr. PASCRELL, Mr. MORAN, Mrs. 

MCCARTHY of New York, Ms. SCHWARTZ, Mr. YARMUTH, Ms. PINGREE

of Maine, Mr. HEINRICH, Mr. HOLT, Mr. FILNER, Mr. CARSON of Indiana, Mr. ANDREWS, Mr. MATHESON, Mr. COURTNEY, Mr. LOEBSACK, 

Mrs. MALONEY, Mr. MCDERMOTT, Mr. MCGOVERN, Mr. BISHOP of New 

York, Mr. THOMPSON of California, Mr. BOSWELL, Mr. CAPUANO, Mr. 

HOLDEN, Ms. SPEIER, Mr. KEATING, Mr. BACA, Mr. BECERRA, Mr. 

LYNCH, Ms. WOOLSEY, Ms. LORETTA SANCHEZ of California, Mr. 

BRALEY of Iowa, Ms. MATSUI, Mr. PERLMUTTER, Mr. PAYNE, Ms. 

MOORE, Mr. KILDEE, Mr. ALTMIRE, Mr. FRANK of Massachusetts, Mr. 

CRITZ, and Mr. MARKEY) submitted the following concurrent resolution; 

which was referred to the Committee on Ways and Means 


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•HCON 101 IH 

CONCURRENT RESOLUTION 

Expressing the sense of the Congress that our current tax 

incentives for retirement savings provide important benefits to Americans to help plan for a financially secure 

retirement. 

Whereas the United States private retirement plan system 

paid out over $3.824 trillion in benefits from 2000 

through 2009—and United States public sector plans 

paid out $2.651 trillion during the same period, both 

playing an essential role in providing retirement income 

for millions of our Nation’s seniors; 

Whereas there are approximately 670,000 private-sector defined contribution plans covering 67,000,000 participants 

and over 48,000 private-sector defined benefit plans covering 19,000,000 participants; 

Whereas $4.7 trillion is held in 401(k), 403(b), 457 and similar defined contribution plans, $2.3 trillion is held in private defined benefit plans, and another $4.9 trillion is 

held in Individual Retirement Accounts, largely consisting 

of funds rolled over from employer-based retirement 

plans; 

Whereas during 2000 through 2009, employers have contributed almost $3.5 trillion to public and private retirement 

plans; 

Whereas tax incentives are an important impetus for individuals to save for retirement and employers to offer plans 

in our voluntary system; 

Whereas generally, the taxation of amounts contributed to 

pension and retirement plans is simply deferred, not lost; 


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•HCON 101 IH 

Whereas more than 70 percent of American workers making 

between $30,000 and $50,000 contribute when covered 

by a retirement plan at work; 

Whereas under current law, if business owners and managers 

sponsor a retirement plan, they also must cover and provide benefits to lower- and middle-income employees; 

Whereas 401(k) and similar defined contribution plans have 

been enhanced over the years by Congress on a bipartisan basis; 

Whereas the private United States retirement system is voluntary and is dependent on the willingness of business 

owners and corporations to adopt and maintain a plan; 

and 

Whereas the United States system of employer-based retirement savings is designed to work together with other personal savings and Social Security to provide meaningful 

income replacement upon retirement: Now, therefore, be 

it 

1 Resolved by the House of Representatives (the Senate 

2 concurring), That it is the sense of the Congress that— 

3 (1) tax incentives for retirement savings play an 

4 important role in encouraging employers to sponsor 

5 and maintain retirement plans and encouraging par6 ticipants to contribute to such plans; 

7 (2) existing tax incentives have increased the 

8 number of Americans who are covered by a retire9 ment plan; and 


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•HCON 101 IH 

1 (3) a reformed and simplified Tax Code should 

2 include properly structured tax incentives to main3 tain and contribute to such plans and to strengthen 

4 retirement security for all Americans. 

Æ 


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