Expressing support for the designation of June as "National Annuity Awareness Month".

IV 118TH CONGRESS 1ST SESSION H. RES. 528 Expressing support for the designation of June as ‘‘National Annuity Awareness Month’’. IN THE HOUSE OF REPRESENTATIVES JUNE 20, 2023 Mr. NUNN of Iowa (for himself and Ms. PETTERSEN) submitted the following resolution; which was referred to the Committee on Oversight and Ac- countability RESOLUTION Expressing support for the designation of June as ‘‘National Annuity Awareness Month’’. Whereas annuities provide a predictable way to meet imme- diate, ongoing, and future financial obligations and objec- tives in retirement; Whereas surveys consistently indicate that the vast majority of individuals in the United States are looking for a fi- nancial solution that provides the benefits offered by an- nuities, specifically the ability to address the critical con- cern 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 VerDate Sep 11 2014 00:36 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6300 E:\BILLS\HR528.IH HR528 pbinns on DSKJLVW7X2PROD with $$_JOB 2 •HRES 528 IH (3) require dependence on family and friends for monetary support; Whereas millions of individuals in the United States currently lack an adequate level of guaranteed income in retire- ment to ensure a secure financial future for themselves and their loved ones; Whereas research indicates that an owner of an annuity has a higher confidence in overall retirement readiness; Whereas an annuity is the only product in the financial mar- ketplace that can provide guaranteed lifetime income; Whereas determining the type of annuity to buy and when to take income is one of the most important financial deci- sions a consumer will ever make, and individuals and families can benefit greatly from the expert guidance of a financial professional; and Whereas numerous stakeholders who support annuities have designated June as ‘‘National Annuity Awareness Month’’, the goals of which are— (1) to educate consumers on annuity benefits; (2) to support access to annuities to meet the indi- vidual financial goals of consumers; and (3) to encourage savers to seek professional guid- ance to implement annuities effectively in income and leg- acy planning: Now, therefore, be it Resolved, That the House of Representatives— 1 (1) expresses support for the designation of 2 ‘‘National Annuity Awareness Month’’; and 3 (2) calls on the United States Government, the 4 States, localities, schools, nonprofit organizations, 5 businesses, and the people of the United States to 6 VerDate Sep 11 2014 00:36 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\HR528.IH HR528 pbinns on DSKJLVW7X2PROD with $$_JOB 3 •HRES 528 IH observe National Annuity Awareness Month with ap- 1 propriate programs and activities. 2 Æ VerDate Sep 11 2014 00:36 Jun 21, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\HR528.IH HR528 pbinns on DSKJLVW7X2PROD with $$_JOB