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 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:
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To maintain an ongoing program of
outreach to the public to effectively promote retirement income
savings;
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To disseminate specific educational
materials related to retirement savings and the principles of saving
and investment;
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To establish a web site as a means to
disseminate these materials, and
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To convene these National Summits on
Retirement Savings in 1998, 2001 and 2005.
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