National Save for Retirement Week

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National Save for Retirement Week

Congress established National Save for Retirement Week to increase awareness of the need to save for retirement.

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.