IV 
111TH CONGRESS 
1ST SESSION 
H. RES. 647 
Supporting the goals and ideals of ‘‘National Save for Retirement Week’’, 
including raising public awareness of the various tax-preferred retirement 
vehicles and increasing personal financial literacy. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 14, 2009 
Ms. SCHWARTZ (for herself and Mr. SAM JOHNSON of Texas) submitted the 
following resolution; which was referred to the Committee on Financial 
Services 
RESOLUTION 
Supporting the goals and ideals of ‘‘National Save for Retire-
ment Week’’, including raising public awareness of the 
various tax-preferred retirement vehicles and increasing 
personal financial literacy. 
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 con-
tinue 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; 
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•HRES 647 IH 
Whereas recent data from the Employee Benefit Research In-
stitute indicates that, in the United States, less than 2⁄3 
of workers or their spouses are currently saving for re-
tirement and that the actual amount of retirement sav-
ings of workers lags far behind the amount that will be 
needed to adequately fund their retirement years; 
Whereas financial literacy is an important factor in United 
States workers understanding the true need to save for 
retirement; 
Whereas saving for one’s retirement is a key component to 
overall financial health and security during retirement 
years, the importance of financial literacy in planning 
one’s retirement must be advocated; 
Whereas many workers may not be aware of their options for 
saving for retirement or may not have focused on the im-
portance of, and need for, saving for their own retire-
ment; 
Whereas many employees have available to them through 
their employers access to defined benefit and defined con-
tribution plans to assist them in preparing for retire-
ment, 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 Fed-
eral law; 
Whereas many workers who are saving for retirement in tax- 
preferred vehicles have experienced declines in their ac-
count 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 em-
ployees, employees of tax-exempt organizations, and self- 
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•HRES 647 IH 
employed individuals, can benefit from increased aware-
ness of the need to develop personal budgets and finan-
cial 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 ve-
hicles and increasing personal financial literacy; 
(2) supports the need to raise public awareness 
of efficiently utilizing substantial tax revenues that 
currently subsidize retirement savings, revenues esti-
mated 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 incorporating financial literacy 
as part of understanding the need to adequately save 
for retirement, and the availability of tax-preferred 
employer-sponsored retirement savings vehicles; and 
(4) calls on the States, localities, schools, uni-
versities, nonprofit organizations, businesses, other 
entities, and the people of the United States to ob-
serve this week with appropriate programs and ac-
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•HRES 647 IH 
tivities with the goal of increasing overall financial 
literacy with respect to retirement savings for all the 
people of the United States. 
Æ 
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