IV 
113TH CONGRESS 
2D SESSION 
H. RES. 496 
Recognizing the importance of savings to financial security. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 28, 2014 
Mr. HINOJOSA (for himself and Mr. STIVERS) submitted the following 
resolution; which was referred to the Committee on Financial Services 
RESOLUTION 
Recognizing the importance of savings to financial security. 
Whereas financial security is one of the most important 
issues for most Americans whether it involves saving 
enough for their children’s college education, saving for 
an unforeseen emergency, a house, or their retirement; 
Whereas personal savings as a percentage of disposable in-
come reached a 12-month average of 4.5 percent in 2013, 
according to Bureau of Economic Analysis data; 
Whereas student loans outstanding have reached over one 
trillion dollars, and are hindering young people across 
America from purchasing their first home; 
Whereas 49.5 percent of American families reported they did 
not save in 2010, according to the 2012 Federal Reserve 
Board’s Survey of Consumer Finances, which also found 
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that less than half of the population has a savings ac-
count or one month of savings or liquid assets; 
Whereas a 2013 Survey by the Employee Benefit Research 
Institute found that there are ‘‘savers’’ and ‘‘spenders’’ 
in all income classes and almost all have the ability to 
build wealth through contributions to a workplace retire-
ment program, building home equity, and other savings; 
Whereas older Americans are more likely to live within 200 
percent of poverty than any other age group, according 
to the 2010 Employee Benefit Research Institute’s 
Databook, and more than 90 percent of the current el-
derly population relies on Social Security for over three 
fourths of their annual income according to a 2013 Social 
Security Administration report on Income of the Elderly 
over Age 65, 2013, and the average savings of retirees 
remains at $50,000 per according to the Employee Ben-
efit Research Institute for 2012, and the current finan-
cial crisis is draining those funds; 
Whereas America Saves, managed by the Consumer Federa-
tion of America, was established 13 years ago as an an-
nual nationwide campaign that encourages consumers, es-
pecially lower-income households, to pledge to save and 
establish a personal savings goal in an effort to build per-
sonal wealth and enhance financial security; 
Whereas America Saves now has 53 local, State and national 
campaigns working with over 500 mainstream financial 
institutions which provide no-fee or low-fee, low-opening 
balance savings accounts that allow small savers to 
achieve success; 
Whereas government and non-government entities at the 
local, State and national levels organize America Saves 
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campaigns to encourage individuals to open a savings ac-
count, participate in workplace retirement programs, and 
devise a savings plan; 
Whereas according to the 2013 America Saves’ Annual Na-
tional Survey Assessing Household Savings, 54 percent of 
respondents said they ‘‘have a savings plan with specific 
goals’’, 43 percent said they ‘‘have a spending plan that 
allows you to save enough money to achieve the goals of 
your saving plan’’, 50 percent of those not retired said 
they ‘‘save for retirement at work through a 401(k) or 
other contributory plan’’, and 49 percent know their net 
worth; 
Whereas over 1,000 local, State, and national organizations 
have motivated more than 145,000 people to enroll as 
American Savers; 
Whereas over 2,000 local, State, and national organizations 
have motivated more than 350,000 people to enroll as 
American Savers; and 
Whereas setting a savings goal, making a savings plan, and 
making savings automatic is the primary focus for this 
year’s ‘‘America Saves Week’’, a theme reflected in the 
work of the Financial and Economic Literacy Caucus, 
Federal agencies, non-profits, community-based groups, 
private sector organizations: Now, therefore, be it 
Resolved, That the House of Representatives— 
(1) recognizes the importance of savings to fi-
nancial security; 
(2) supports the goals and ideals of ‘‘America 
Saves Week’’; and 
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(3) requests that the President issue a procla-
mation calling on the Federal Government, States, 
localities, schools, nonprofit organizations, busi-
nesses, other entities, and the people of the United 
States to observe the week with appropriate pro-
grams and activities with the goal of increasing the 
savings rates for individuals of all ages and walks of 
life. 
Æ 
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