In 2009, the House of Representatives and the U.S. Senate unanimously approved resolutions designating Oct. 18-24 as National Save for Retirement Week. The resolutions seek to increase personal financial literacy and raise public awareness of the retirement-savings vehicles available to all workers, including public- and private-sector employees, employees of tax-exempt organizations, and self-employed individuals.
Research shows that more than half of all workers in the United States, 53 percent, have less than $25,000 in total savings and investments, excluding their home and defined benefit plans.* With longer life expectancies and rising costs, especially for health care, it is critical that Americans understand the importance of saving for their future - now.
Source: 2009 Retirement Confidence Survey, Employee Benefits Research Institute. Excludes home ownership assets and any defined benefit plans.