Senate approves Collins’ bipartisan resolution to raise retirement security awareness

The U.S. Senate on Oct. 1 unanimously passed a bipartisan resolution cosponsored by U.S. Sen. Susan Collins (R-ME) recognizing October as National Retirement Security Month.

“This resolution encourages Americans to take steps toward securing their futures so they are able to enter their golden years with confidence and maintain their independence as they age,” Sen. Collins said. 

Senate Resolution 743, which Sen Collins introduced with colleagues including U.S. Sens. Todd Young (R-IN), Mike Enzi (R-WY) and Ben Cardin (D-MD), would support the goals and ideals of National Retirement Security Month. These would include raising public awareness of the various tax-preferred retirement vehicles, increasing personal financial literacy, and engaging Americans on how to successfully achieve and maintain retirement security throughout their lifetimes, according to the text of the resolution.

“Helping Americans save more for retirement is a significant public policy challenge that requires us all to work together to find commonsense solutions,” said Sen. Collins.  “As the chairman of the Aging Committee, this is one of my top priorities, and I have held multiple hearings and authored legislation to enhance retirement security.”  

Most recently, for instance, Sen. Collins in July sponsored the bipartisan Military Spouses Retirement Security Act, S. 4173, with cosponsor U.S. Sen. Maggie Hassan (D-NH) to help spouses of active duty U.S. service members save for retirement by expanding access to employer-sponsored retirement plans. The bill is under consideration by the U.S. Senate Finance Committee.