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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 662 Engrossed in House (EH)]

H. Res. 662

                In the House of Representatives, U. S.,

                                                         July 31, 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 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 saving for one's retirement is a key component to overall financial 
        health and security during 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 many workers who are saving for retirement in tax-preferred vehicles 
        have experienced declines in their account values as a result of 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 self-employed individuals, can benefit 
        from increased awareness of the need to develop personal budgets and 
        financial plans including retirement savings strategies, and to take 
        advantage of the availability of tax-preferred savings vehicles to 
        assist them in saving for retirement; and
Whereas October 18 through October 24, 2009, has been designated as ``National 
        Save for Retirement Week'': Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) supports the goals and ideals of ``National Save for Retirement 
        Week'', including raising public awareness of the various tax-preferred 
        retirement vehicles as important tools for personal savings and 
        retirement financial security;
            (2) supports the need to raise public awareness of efficiently 
        utilizing substantial tax revenues that currently subsidize retirement 
        savings, revenues estimated to be in excess of $120,400,000,000 for the 
        2008 fiscal year budget;
            (3) supports the need to raise public awareness of the importance of 
        saving adequately for retirement, and the availability of tax-preferred 
        employer-sponsored retirement savings vehicles; and
            (4) calls on the States, localities, schools, universities, 
        nonprofit organizations, businesses, other entities, and the people of 
        the United States to observe this week with appropriate programs and 
        activities with the goal of increasing retirement savings for all the 
        people of the United States.
            Attest:

                                                                          Clerk.
```