RESOLUTION FOR BOARD MEETING OF OCTOBER 15, 2009
Title
RESOLUTION sponsored by the Board of Commissioners declaring October 18 - 24, 2009 as National Save For Retirement Week
Body
WHEREAS, the U. S. House of Representatives and the U. S. Senate unanimously approved resolutions designating October 18 - 24, 2009 as National Save For Retirement Week; and
WHEREAS, such resolutions seek to increase personal financial literacy and raise public awareness of the retirement savings vehicles available to all workers; and
WHEREAS, research shows that more than half of all workers in the United States have less than $25,000.00 in total savings and investments, excluding their homes and defined benefit plans; and
WHEREAS, with longer life expectancies and rising costs, the need for greater savings grows; and
WHEREAS, the Metropolitan Water Reclamation District of Greater Chicago participated in National Save For Retirement Week for the first time in 2008; and
WHEREAS, the Metropolitan Water Reclamation District of Greater Chicago Human Resources Department designed activities during the 2008 week to give employees at five major facilities a broad range of information about saving and investing for retirement; and
WHEREAS, the primary goal of the Metropolitan Water Reclamation District of Greater Chicago in participating in the 2008 National Save For Retirement Week was to increase awareness among its employees of its supplemental Section 457 Deferred Compensation Plan; and
WHEREAS, the Metropolitan Water Reclamation District of Greater Chicago won a special Award of Distinction in Leadership Award from the National Association of Governmental Defined Contribution Administrators for its efforts in 2008; and
WHEREAS, the Metropolitan Water Reclamation District of Greater Chicago has always been an advocate for the importance of saving for retirement and offers many programs to support that position, including a pension plan, a tax-qualified deferred compensation plan and an employees' credit union; and
NOW, THEREFORE, BE IT RESOLVED that we, the Board of Commissioners of the Metropolitan Water Reclamation District of Greater Chicago, on behalf of ourselves and our staff, do hereby declare October 18 - 24, 2009 as National Save For Retirement Week; and
BE IT FURTHER RESOLVED, that this Resolution be spread upon the permanent Record of Proceedings of the Board of Commissioners of the Metropolitan Water Reclamation District of Greater Chicago.
Dated: October 15, 2009
Approved: TERRENCE J. O'BRIEN, President; KATHLEEN THERESE MEANY, Vice-President; GLORIA ALITTO MAJEWSKI, Chairman, Committee on Finance; FRANK AVILA; PATRICIA HORTON; BARBARA J. MCGOWAN; CYNTHIA M. SANTOS; DEBRA SHORE; MARIYANA T. SPYROPOULOS, Commissioners of the Metropolitan Water Reclamation District of Greater Chicago
Approved as to Form and Legality: Frederick M. Feldman, General Counsel