It is incorrect to use savings in the description.

Here is a portion of the history taken from the U. S. Naval Observatory site. It should be very accurate since “[they are] charged with maintaining the DoD reference for Precise Time and Time Interval.” … Although standard time in time zones was instituted in the U.S. and Canada by the railroads in 1883, it was not established in U.S. law until the Act of March 19, 1918, sometimes called the Standard Time Act. The act also established daylight saving time, a contentious idea then. … Beginning in 2007, daylight time starts on the second Sunday in March and ends on the first Sunday in November.

This is the link if you would like to read the complete history.