Recognize retirement security concern facing American workers and urge improvement.

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To: Rules
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Senator(s) Michel, Frazier, Thomas

SENATE CONCURRENT RESOLUTION NO. 531

A CONCURRENT RESOLUTION TO RECOGNIZE THE GROWING RETIREMENT 1
SECURITY CONCERN FACING AMERICAN WORKERS, TO HIGHLIGHT ITS 2
CONTRIBUTING FACTORS AND CONSEQUENCES, AND TO URGE EFFORTS TO 3
IMPROVE RETIREMENT SECURITY FOR ALL CITIZENS. 4
WHEREAS, according to the National Council on Aging (NCOA), 5
there is a growing retirement security concern for American 6
workers, including state employees; and 7
WHEREAS, the term "retirement security concern" 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 the 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 the adults aged, and based on 16
the 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 and rising healthcare 20
costs, have contributed to the deepening retirement security 21
concern; and 22
WHEREAS, focusing on addressing the concern with a strategy 23
to increase lifetime income, in 2025, the National Council of 24
Insurance Legislators (NCOIL) unanimously adopted a resolution in 25
favor of encouraging the redesign and inclusion of in-plan 26
lifetime income as part of the available investment options in 27
defined contribution or deferred compensation retirement plans; 28
and 29
WHEREAS, NCOIL's resolution further encourages both public 30
and private employers to include lifetime income investment 31
solutions for their employees and to educate, encourage, and 32
facilitate the use of those solutions by their employees; and 33
WHEREAS, the economic and social implications of this concern 34
extend beyond individual households and represent a growing 35
concern for national and state policymakers; and 36
WHEREAS, to help workers gain access to an adequate amount of 37
lifetime income, federal and state policymakers should encourage 38
awareness of this dangerous trend and promote policies that 39
provide advice and guidance services, tools, and solutions to 40
workers to ensure they are on track for a dignified and secure 41
retirement: 42
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ST: Recognize retirement security concern
facing American workers and urge improvement.
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF 43
MISSISSIPPI, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That 44
the Legislature of Mississippi does hereby recognize the severity 45
and urgency of the retirement concern facing American workers, 46
acknowledges its root causes and harmful consequences, and urges 47
federal and state leaders to pursue policy solutions aimed at 48
ensuring a secure and dignified retirement for all citizens. 49
BE IT FURTHER RESOLVED, That the Senate and House of 50
Representatives encourage increased public awareness and financial 51
education initiatives by all retirement systems and employers to 52
empower workers with the knowledge necessary to plan effectively 53
for their retirement. 54
BE IT FURTHER RESOLVED, That this resolution be transmitted 55
to the Board of Trustees of the Public Employees' Retirement 56
System and the Governor, and made available to the Capitol Press 57
Corps. 58