Resolutions introduced in the House and Senate to declare “National Save for Retirement Week”

June 21, 2007

(Lexington, KY) – The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) is pleased to announce that Resolutions have been introduced in the House (H. Res. 507) and Senate (S. Res. 240) calling on the week of October 21, 2007 as National Save for Retirement Week.

In follow up to the successful passage of the Resolution in 2006, Senator Smith (R-OR) has taken the lead and Senator Conrad (D-ND) has joined him in crafting the Resolution and introducing it in the Senate. .

The House joined the effort this year with Representative Schwartz, (D-PA) and Representative Sam Johnson (R-TX) introducing a companion Resolution that was drafted by the House Committee on Ways and Means tax-writing committee.

“Building on the positive nationwide response in October 2006 to National Save for Retirement Week, we worked closely with the Senate and House in order to ensure passage this year of the Resolution and further the goal of educating and urging employees-both public and private-to increase their savings for retirement,” stated Ralph Marsh, NAGDCA President.

In addition to seeking this critical recognition from Congress, NAGDCA has also been working with the House Ways and Means Committee on an effort to create legislation authorizing a permanent Savings for Retirement month.

The Committee on Ways and Means, working closely with Senators Smith and Conrad, plans to begin the process of drafting a bill this summer. Once passed by the House and Senate, the legislation would go to the President for a Savings for Retirement Month proclamation.

Please visit www.nagdca.org to follow developing news on the National Save for Retirement Week.

NAGDCA's mission is to unite representatives from state and local governments along with private sector organizations that service and support governmental defined contribution plans. NAGDCA provides an environment to foster growth in professional development of its members through networking with peers, educational opportunities and information sharing that includes comprehensive publications, reports and surveys. NAGDCA will promote and support federal legislative initiatives for the advancement of retirement plans.