Us Congress Senate Bill SR275

Us Congress 2023-2024 Regular Session

• Introduced: 6/22/23
• Refer: 6/22/23

Caption

A resolution designating June as "National Annuity Awareness Month".

Impact

By designating a month specifically for annuity awareness, the resolution encourages both the government and various organizations to participate in educational programs and activities aimed at consumers. This initiative is intended to support individuals in understanding the benefits of annuities and the necessity of seeking professional financial guidance. Improved awareness may lead to an increased uptake of annuities, potentially contributing to better financial security for retirees.

Summary

SR275, known as the National Annuity Awareness Month Resolution, aims to designate June as 'National Annuity Awareness Month'. The resolution highlights the importance of annuities in providing guaranteed lifetime income, which can be crucial for individuals seeking to secure their financial future in retirement. It emphasizes the challenges faced by many in ensuring they do not outlive their retirement savings, which can lead to financial hardship and dependency on family and friends.

Contention

While the resolution is largely symbolic, it reflects a recognition of the need for financial products that address retirement income. Notably, there may be discussions around how such designations could influence market perceptions or legislative frameworks surrounding financial products. However, there is no apparent major contention regarding the bill itself, as it serves more to raise awareness rather than to enact substantive changes in law.