A resolution designating June as "National Annuity Awareness Month".

Summary of S. Res. 774 (119th Congress, 2nd Session)

Purpose

• Designates June as “National Annuity Awareness Month.”
• Encourages government entities, states, localities, schools, nonprofit organizations, businesses, and the general public to observe the month with appropriate programs and activities that promote awareness of annuities and their role in retirement planning.

Background and Rationale (as stated in the resolution)

• Annuities are presented as a way to provide predictable, guaranteed income to meet immediate, ongoing, and future retirement financial needs.
• Many Americans are seeking financial solutions that help address the risk of outliving retirement savings.
• The resolution notes that:
  • Outliving retirement savings can cause financial hardship, hinder legacy goals, and increase reliance on others.
  • Annuity ownership is associated with higher confidence in retirement readiness.
  • Annuities provide guaranteed lifetime income, a unique feature among financial products.
  • Deciding which type of annuity to buy and when to take income is a major financial decision, for which professional guidance can be beneficial.

Key Provisions

• Formal designation of June as National Annuity Awareness Month.
• A call for observance and education by:
  • The United States Government.
  • State and local governments.
  • Schools, nonprofit organizations, and businesses.
  • Individuals across the United States.
• Encourages activities and programs that educate consumers about annuity benefits, support access to annuities aligned with individual financial goals, and promote seeking professional guidance for annuity-based income and estate planning.

Who/What is Affected

• Broad, nationwide scope affecting:
  • Federal agencies and policymakers (in terms of promoting awareness).
  • State and local governments.
  • Educational institutions and programs.
  • Nonprofit organizations and businesses involved in retirement planning or financial education.
  • Individual savers and households considering annuities as part of retirement income strategies.

Procedural and Timeline Aspects

• Introduced in the Senate on June 17, 2026 by Senator Moran (with a co-sponsor).
• Referred to the Senate Committee on the Judiciary for consideration.
• As a resolution, it designates an observance and does not create new statutory requirements or funding.
• No specific action, funding, or implementation deadlines are provided beyond encouraging observance in June.

Potential Impact

• Raises public awareness about annuities and their role in providing guaranteed lifetime income.
• Encourages financial education and access to annuity products and professional guidance.
• May influence public discourse and educational programming around retirement planning, particularly the use of annuities as a risk management tool against longevity risk.

Note: This summary reflects the text and stated purpose of the bill as a Senate resolution. It does not amend existing law or authorize new spending.