The "Savings Are Vital to Everyone’s Retirement Act of 1997" (SAVER) was enacted on November 20, 1997. The purpose of the SAVER Act is to advance the public’s knowledge and understanding of the importance of retirement savings. The Act directs the Secretary of Labor to take action in four general areas:
- To maintain an ongoing program of outreach to the public to effectively promote retirement income savings;
- To disseminate specific educational materials related to retirement savings and the principles of saving and investment;
- To establish a web site as a means to disseminate these materials, and
- To convene these National Summits on Retirement Savings in 1998, 2001 and 2005.
- Advance the public's knowledge and understanding of retirement savings and its critical importance to the future well-being of workers and their families.
- Facilitate the development of a broad-based, public education program to encourage and enhance individual commitment to a personal retirement savings strategy.
- Develop recommendations for additional research, reforms and action in the field of private pensions and individual retirement savings.
- Final Report
- Agenda
- Background Materials
- Delegates
- News Release
- Federal Register Notice
- Request for Information (RFI)
- Public Comments
Speeches and Remarks from the Summit
- Vice President Richard B. Cheney
- U.S. Secretary of Labor Elaine L. Chao
- Rep. Michael G. Oxley, Chairman, House Financial Services Committee
- Senator Charles E. Grassley, Chairman, Senate Committee on Finance
- Senator Gordon H. Smith, Chairman, Senate Special Committee on Aging
- Assistant Secretary of Labor Ann L. Combs
- Sylvester J. Schieber, VP & Director of Benefits Consulting, Watson Wyatt Worldwide
Summit Video
Speeches and Remarks from the Summit
- President George W. Bush
- Commerce Dept Secretary Donald Evans
- Fed Reserve Bd Chm Alan Greenspan
- Senator Edward M. Kennedy
- Senator Tim Johnson
- Senator Larry E. Craig
- Congressman Earl Pomeroy
- Congressman Sam Johnson
- Labor Secretary Elaine L. Chao
- EBSA Assistant Secretary Ann L. Combs
- Cynthia Drinkwater, IFEBP
Summit Video
- U.S. Labor Secretary Challenges 2006 SAVER Summit Delegates to Develop Strategies for Enhancing Retirement Security [03/01/2006]
- U.S. Labor Secretary Elaine L. Chao Announces Agenda for 2006 SAVER Summit [02/21/2006]
- Labor Department Unveils Resource to Help Americans Plan for Retirement [02/15/2006]
- Labor Department Announces Web Page and Media Registration for 2006 SAVER Summit [02/08/2006]
- U.S. Labor Secretary Elaine L. Chao Announces Date of 2006 SAVER Summit to Help Americans Plan Secure Retirement [12/01/2005]
- Secretary Elaine L. Chao Releases 2002 National SAVER Summit Report [09/06/2002]
- Labor Secretary Issues Challenge: Increase Retirement Savings and Security - SAVER Summit Draws Crowd of 250 Financial and Retirement Leaders [02/28/2002]
- Secretary Of Labor Elaine L. Chao Hosts 2002 SAVER Summit - Major Speeches Will Be Available Via Webcast [02/21/2002]
- Labor Secretary Elaine L. Chao Announces Delegates To 2002 Retirement SAVER Summit Delegates Represent Diverse Expertise [02/13/2002]
- U.S. Secretary of Labor Elaine L. Chao Announces 2002 Retirement SAVER Summit Agenda [02/07/2002]
- Secretary Chao Announces Date Of SAVER Summit 2002 Event Will Provide Expertise, Encourage Americans To Save [10/25/2001]
- Labor Department Seeks Comments On Retirement SAVER Summit For 2001 [11/30/2000]