Rep. Bacon Recognizes National Retirement Planning Week

WASHINGTON, April 8 — Rep. Don Bacon, R-Neb., issued the following speech, which was published in the Congressional Record on April 6, recognizing National Retirement Planning Week:

Mr. Speaker, I rise today in recognition of the more than 48 million Americans who have currently reached retirement age. Shockingly, a significant number of Americans have saved nothing for their retirement. While retirement is often viewed as an issue for older Americans, today's economic realities mean that saving for retirement needs to start earlier than ever before. With rising healthcare costs, longer life spans, a burdensome tax code, and a reduction of pension offerings, more Americans than ever before are shouldering the burden of financing retirement entirely by themselves.

The first week of April has annually been proclaimed as National Retirement Planning Week. Under the leadership of the National Retirement Planning Coalition, we are all being urged to rethink what we believe we know about retirement planning. Despite developing trends, the National Retirement Planning Coalition hopes to help guide all Americans towards securing a dignified retirement through holistic planning.

Mr. Speaker, there are steps we all can take to achieve financial independence in our retirement years. We now have the opportunity to renew the national conversation on the importance of preparing and protecting retirement. I encourage my colleagues to support legislation which will help their constituents prepare for a dignified retirement.