Expressing support for the designation of June as "National Annuity Awareness Month".
- Bill Number
- H.Res. 464
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2025-06-03: Referred to the House Committee on Oversight and Government Reform.
- Last Updated
- 2025-07-16T13:44:04Z
AI-Generated Summary
Purpose
This House Resolution (H. Res. 464) aims to express congressional support for designating June as "National Annuity Awareness Month." It highlights the role of annuities—financial products that provide steady income, often for retirement—as a key tool for financial security, and encourages public education on their benefits.
Key Provisions
- Background Rationale: The resolution includes several "Whereas" clauses explaining the importance of annuities:
- Annuities offer predictable income to cover retirement needs and goals.
- Many Americans seek solutions to avoid outliving their savings, which could lead to financial hardship, unfulfilled legacy plans (e.g., leaving money to heirs), or reliance on family.
- Millions lack sufficient guaranteed retirement income.
- Annuity owners report higher confidence in their retirement preparedness.
- Annuities are unique in providing guaranteed lifetime income.
- Choosing an annuity requires careful decisions, benefiting from advice by financial professionals.
- Various groups already promote June as Annuity Awareness Month to educate consumers, promote access to annuities, and encourage professional guidance for income and legacy planning.
- Core Actions:
- The House of Representatives supports the designation of "National Annuity Awareness Month."
- It urges the U.S. government, states, local governments, schools, nonprofits, businesses, and the public to observe the month with relevant programs and activities focused on annuity education.
Significant Changes to Existing Law
This is a non-binding resolution, so it introduces no changes to existing laws or regulations. It serves as a symbolic endorsement rather than enforceable legislation.
Potential Impacts
- On Citizens: Could increase public awareness of annuities, helping individuals better plan for retirement by understanding options for guaranteed income and seeking professional advice, potentially reducing financial risks in later life.
- On Government Agencies: Minimal direct impact; federal, state, and local agencies are encouraged (but not required) to participate in awareness activities, which might involve low-cost educational outreach.
- On International Relations: No impact, as the resolution focuses solely on domestic financial education.
- Overall, the effects are likely indirect and educational, promoting financial literacy without mandating actions.
Main Stakeholders Affected
- Consumers and Retirees: Primary beneficiaries, as the resolution promotes tools to secure retirement income and avoid financial shortfalls.
- Financial Professionals and Annuity Providers: Encouraged to provide guidance and support access to annuities, potentially boosting their role in retirement planning.
- Educational and Nonprofit Organizations: Schools, nonprofits, and businesses may engage in awareness programs, expanding their community outreach efforts.
- Government Entities: Congress, states, localities, and agencies are called upon to observe the month, though participation is voluntary.
Notable Legal, Constitutional, or Political Implications
- Legal: As a simple resolution, it has no legal force and does not amend statutes or create obligations. It aligns with broader efforts in financial regulation but adds no new rules.
- Constitutional: No significant implications; it falls under Congress's power to express opinions on public policy matters without infringing on individual rights.
- Political: Represents bipartisan interest (introduced by representatives from different parties) in retirement security and financial education. It could signal congressional priority on aging population issues but remains symbolic, potentially influencing public discourse without policy shifts.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Rep. Pettersen, Brittany [D-CO-7]
Recent Actions
- 2025-06-03: Referred to the House Committee on Oversight and Government Reform.
- 2025-06-03: Submitted in House
- 2025-06-03: Submitted in House
Bill Versions
- Expressing support for the designation of June as "National Annuity Awareness Month". — issued 2025-06-03 — PDF (3 pages)