Presidents' Column (July - August 2001)

Presidential Proclamation of
Recognition and Appreciation

Whereas, enactment of U.S. Federal legislation to strengthen America's voluntary, private pension system and to increase individual retirement savings has been a high priority public policy objective for IEEE-USA since it was first established in 1973; and

Whereas, the Economic Growth and Tax Relief Reconciliation Act of 2001 (Public Law 107-16) as passed by the United States Congress and approved by the President of the United States, by raising contribution limits for IRAs and workplace retirement plans, reducing vesting standards, improving the portability of earned benefits when workers change jobs and expanding pension coverage by making it easier for small businesses to establish retirement savings plans, will substantially increase personal savings for retirement and productive investment in the U.S. national economy;

Therefore be it proclaimed that the IEEE and the IEEE-USA Presidents, on behalf of IEEE's 230,000 U.S. members, wish to publicly recognize and express appreciation to:

The Officers and Directors of IEEE-USA (and its predecessor United States Activities Board), the IEEE volunteer leaders who have served on the Engineering Employment Benefits (and its predecessor Pensions) Committee, the many IEEE members who have taken time to communicate their personal support for needed reforms to Members of Congress and IEEE-USA staff, for their dedicated efforts to improve retirement income security for America's engineers and scientists; and

The American Association of Engineering Societies, its member societies and more than 100 other national organizations representing businesses, educators, government employees, union members and professionals that worked tirelessly to mobilize public support for IRA expansion and pension reform legislation in all 50 states; and

The broad bipartisan Congressional majorities that co-sponsored and voted to approve the necessary enabling legislation in the U.S. House of Representatives and the Senate during the 107th Congress; and

President George W. Bush, for making tax reform a top priority for his Administration and for signing the Economic Growth and Tax Relief Reconciliation Act into law.

With heartfelt thanks for a job well done!

28 June 2001