MS HR49

Recognizes the retirement security crisis affecting American workers, citing 2020 NCOA research showing 80% of households with adults aged 60+ are financially struggling or at risk of economic insecurity as they age

Identifies contributing factors including increasing life expectancy, rising healthcare costs, and declining availability of traditional pension plans

Endorses the 2025 National Council of Insurance Legislators (NCOIL) resolution encouraging employers to redesign defined contribution plans to include in-plan lifetime income investment options

Urges federal and state leaders to pursue policy solutions ensuring secure retirement for all citizens, including increased public awareness and financial education initiatives by retirement systems and employers

Directs copies of the resolution be sent to NCOA, NCOIL, and the Capitol Press Corps