IV 

111TH CONGRESS 

2D SESSION H. RES. 1082 

Supporting the goals and ideals of the fourth annual America Saves Week. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 22, 2010 

Ms. EDDIE BERNICE JOHNSON of Texas (for herself, Mr. HINOJOSA, and Mrs. 

BIGGERT) submitted the following resolution; which was referred to the 

Committee on Financial Services 

RESOLUTION 

Supporting the goals and ideals of the fourth annual America 

Saves Week. 

Whereas financial security is one of the most important 

issues for most Americans, whether it involves saving for 

a college education, an unforeseen emergency, a house, or 

for retirement; 

Whereas personal savings as a percentage of disposable income has risen from 1.2 percent in the first quarter of 

2008 to 4.8 percent in the fourth quarter of 2009, according to the Bureau of Economic Analysis; 

Whereas according to the Employee Benefit Research Institute, the percentage of workers very confident about having enough money for a comfortable retirement fell to 13 

percent in 2009, down from 18 percent in 2008, and 


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•HRES 1082 IH 

more workers expect to work longer to supplement their 

income in retirement; 

Whereas older Americans are more likely to live within 200 

percent of poverty than any other age group, according 

to the 2009 Employee Benefit Research Institute’s 

Databook, and more than 60 percent of the current elderly population relies on Social Security for over threefourths of their annual income, according to a 2009 Social Security Administration report; 

Whereas the average savings of retirees remains at $50,000 

according to the Federal Reserve Board’s Survey of Consumer Finances for 2007, and recent financial instability 

has diminished those funds; 

Whereas America Saves, managed by the Consumer Federation of America, was established nine years ago as an annual nationwide campaign that encourages consumers, especially those in lower-income households, to increase 

their financial literacy, enroll as American Savers, and 

establish a personal savings goal in an effort to build personal wealth and enhance financial security; 

Whereas over 2,000 local, State, and national organizations, 

including government agencies, financial institutions, and 

non-profits, have motivated more than 245,000 people to 

enroll as American Savers through events such as financial literacy classes, financial fairs, free tax preparation 

assistance programs, and deposit campaigns; and 

Whereas encouraging automatic and habitual savings is a primary focus for this year’s America Saves Week, February 

21, 2010, through February 28, 2010, and that focus is 

reflected in the work of the Financial and Economic Literacy Caucus, America Saves, and American Savings 


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•HRES 1082 IH 

Education Council’s Choose to Save Campaign: Now, 

therefore, be it 

1 Resolved, That the House of Representatives— 

2 (1) recognizes the importance of savings to fi3 nancial security; 

4 (2) supports the goals and ideals of ‘‘America 

5 Saves Week’’; and 

6 (3) requests that the President issue a procla7 mation calling on the Federal Government, States, 

8 localities, schools, non-profit organizations, busi9 nesses, other entities, and the people of the United 

10 States to observe America Saves Week with appro11 priate programs and activities with the goal of in12 creasing the savings rates for individuals of all ages 

13 and walks of life. 

Æ 


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