Title: A resolution designating June as "National Annuity Awareness Month".
Policy area: Finance and Financial Sector

Summary:
National Annuity Awareness Month
This resolution designates June as National Annuity Awareness Month and calls on the United States and other public and private entities to observe the Month with appropriate programs and activities.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 695 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
S. RES. 695

       Designating June as ``National Annuity Awareness Month''.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 23, 2022

   Mr. Moran (for himself and Mr. Grassley) submitted the following 
    resolution; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                               RESOLUTION


 
       Designating June as ``National Annuity Awareness Month''.

Whereas annuities provide a predictable way to meet immediate, ongoing, and 
        future financial obligations and objectives in retirement;
Whereas surveys consistently indicate that the vast majority of individuals in 
        the United States are looking for a financial solution that provides the 
        benefits offered by annuities, specifically the ability to address the 
        critical concern of running out of money during retirement;
Whereas outliving retirement savings can--

    (1) create a financial hardship that reduces the standard of living in 
retirement;

    (2) defeat the fulfillment of legacy goals; and

    (3) require dependence on family and friends for monetary support;

Whereas millions of individuals in the United States currently lack an adequate 
        level of guaranteed income in retirement to ensure a secure financial 
        future for themselves and their loved ones;
Whereas research indicates that an owner of an annuity has a higher confidence 
        in overall retirement readiness;
Whereas an annuity is the only product in the financial marketplace that can 
        provide guaranteed lifetime income;
Whereas determining the type of annuity to buy and when to take income is one of 
        the most important financial decisions a consumer will ever make, and 
        individuals and families can benefit greatly from the expert guidance of 
        a financial professional; and
Whereas numerous stakeholders who support annuities have designated June as 
        ``National Annuity Awareness Month'', the goals of which are--

    (1) to educate consumers on annuity benefits;

    (2) to support access to annuities to meet the individual financial 
goals of consumers; and

    (3) to encourage savers to seek professional guidance to implement 
annuities effectively in income and legacy planning: Now, therefore, be it

    Resolved, That the Senate--
            (1) designates June as ``National Annuity Awareness 
        Month''; and
            (2) calls on the United States Government, the States, 
        localities, schools, nonprofit organizations, businesses, and 
        the people of the United States to observe National Annuity 
        Awareness Month with appropriate programs and activities.
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