Growing Retirement Security Crisis; recognize and urge improvement for all citizens.

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To: Rules
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Shanks

HOUSE RESOLUTION NO. 49

A RESOLUTION RECOGNIZING THE GROWING RETIREMENT SECURITY 1
CRISIS FACING AMERICAN WORKERS, TO HIGHLIGHT ITS CONTRIBUTING 2
FACTORS AND CONSEQUENCES, AND TO URGE EFFORTS TO IMPROVE 3
RETIREMENT SECURITY FOR ALL CITIZENS. 4
WHEREAS, according to the National Council on Aging (NCOA), 5
there is a growing retirement security crisis for American 6
workers, including state employees; and 7
WHEREAS, the term "retirement security crisis" refers to a 8
situation in which a significant number of workers are struggling 9
to save or accumulate enough wealth for their retirement, 10
resulting in growing financial insecurity among older adults; and 11
WHEREAS, in 2020, researchers with NCOA and the LeadingAge 12
Long-Term Services and Supports (LTSS) Center at University of 13
Massachusetts Boston found that 80% of households with adults aged 14
60 and older were financially struggling or were at risk of 15
falling into economic insecurity as they age, and based on the 16
data, the number of elderly households in economic insecurity 17
would likely grow over time; and 18
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WHEREAS, a convergence of demographic, economic, and policy 19
factors, such as increasing life expectancy, rising healthcare 20
costs, and the declining availability of traditional pension 21
plans, has contributed to the deepening retirement security 22
crisis; and 23
WHEREAS, focusing on addressing the crisis with a strategy to 24
increase lifetime income, in 2025, the National Council of 25
Insurance Legislators (NCOIL) unanimously adopted a resolution in 26
favor of encouraging the redesign and inclusion of in-plan 27
lifetime income as part of the available investment options in 28
defined contribution or deferred compensation retirement plans; 29
and 30
WHEREAS, NCOIL's resolution further encourages both public 31
and private employers to include lifetime income investment 32
solutions for their employees and to educate, encourage, and 33
facilitate the use of those solutions by their employees; and 34
WHEREAS, the economic and social implications of this crisis 35
extend beyond individual households and represent a growing 36
concern for national and state policymakers; and 37
WHEREAS, to help workers gain access to an adequate amount of 38
lifetime income, federal and state policy makers should encourage 39
awareness of this dangerous trend and promote policies that 40
provide advice and guidance services, tools, and solutions to 41
workers to ensure they are on track for a dignified and secure 42
retirement: 43
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ST: Growing Retirement Security Crisis;
recognize and urge improvement for all citizens.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF 44
REPRESENTATIVES OF THE STATE OF MISSISSIPPI, That we do hereby 45
recognize the severity and urgency of the retirement crisis facing 46
American workers, acknowledge its root causes and harmful 47
consequences, and urge federal and state leaders to pursue policy 48
solutions aimed at ensuring a secure and dignified retirement for 49
all citizens. 50
BE IT FURTHER RESOLVED, That we encourage increased public 51
awareness and financial education initiatives by all retirement 52
systems and employers to empower workers with the knowledge 53
necessary to plan effectively for their retirement. 54
BE IT FURTHER RESOLVED, That copies of this resolution be 55
furnished to the National Council on Aging (NCOA), the National 56
Council of Insurance Legislators (NCOIL) and to the members of the 57
Capitol Press Corps. 58