Bill Text: MS SC531 | 2026 | Regular Session | Engrossed
Bill Title: Recognize retirement security concern facing American workers and urge improvement.
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2026-03-20 - Enrolled Bill Signed [SC531 Detail]
Download: Mississippi-2026-SC531-Engrossed.html
MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Rules
By: Senator(s) Michel, Frazier, Thomas
Senate Concurrent Resolution 531
(As Adopted by Senate)
A CONCURRENT RESOLUTION TO RECOGNIZE THE GROWING RETIREMENT SECURITY CONCERN FACING AMERICAN WORKERS, TO HIGHLIGHT ITS CONTRIBUTING FACTORS AND CONSEQUENCES, AND TO URGE EFFORTS TO IMPROVE RETIREMENT SECURITY FOR ALL CITIZENS.
WHEREAS, according to the National Council on Aging (NCOA), there is a growing retirement security concern for American workers, including state employees; and
WHEREAS, the term "retirement security concern" refers to a situation in which a significant number of workers are struggling to save or accumulate enough wealth for their retirement, resulting in growing financial insecurity among older adults; and
WHEREAS, in 2020, researchers with NCOA and the LeadingAge Long-Term Services and Supports (LTSS) Center at the University of Massachusetts Boston found that 80% of households with adults aged 60 and older were financially struggling or were at risk of falling into economic insecurity as the adults aged, and based on the data, the number of elderly households in economic insecurity would likely grow over time; and
WHEREAS, a convergence of demographic, economic, and policy factors, such as increasing life expectancy and rising healthcare costs, have contributed to the deepening retirement security concern; and
WHEREAS, focusing on addressing the concern with a strategy to increase lifetime income, in 2025, the National Council of Insurance Legislators (NCOIL) unanimously adopted a resolution in favor of encouraging the redesign and inclusion of in-plan lifetime income as part of the available investment options in defined contribution or deferred compensation retirement plans; and
WHEREAS, NCOIL's resolution further encourages both public and private employers to include lifetime income investment solutions for their employees and to educate, encourage, and facilitate the use of those solutions by their employees; and
WHEREAS, the economic and social implications of this concern extend beyond individual households and represent a growing concern for national and state policymakers; and
WHEREAS, to help workers gain access to an adequate amount of lifetime income, federal and state policy makers should encourage awareness of this dangerous trend and promote policies that provide advice and guidance services, tools, and solutions to workers to ensure they are on track for a dignified and secure retirement:
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That the Legislature of Mississippi does hereby recognize the severity and urgency of the retirement concern facing American workers, acknowledges its root causes and harmful consequences, and urges federal and state leaders to pursue policy solutions aimed at ensuring a secure and dignified retirement for all citizens.
BE IT FURTHER RESOLVED, That the Senate and House of Representatives encourage increased public awareness and financial education initiatives by all retirement systems and employers to empower workers with the knowledge necessary to plan effectively for their retirement.
BE IT FURTHER RESOLVED, That this resolution be transmitted to the Board of Trustees of the Public Employees' Retirement System and the Governor, and made available to the Capitol Press Corps.
