119th Congress, 1st Session

Legislative Proposals

RISE Act

Introduced as S. 1840 by Senator Margaret Wood Hassan (D-NH) on May 21, 2025.

This bill would amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit.

Source: Congress.gov

Auto Reenroll Act of 2025

Introduced by Senator Tim Kaine (D-VA) and Senator Bill Cassidy (R-LA) on May 21, 2025.

This bill would amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to allow for periodic automatic reenrollment under qualified automatic contribution arrangements.

Source: Press Release

Employee Ownership Representation Act

Introduced as S. 1728 by Senator Bill Cassidy (R-LA) on May 13, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 to expand the membership of the Advisory Council on Employee Welfare and Pension Benefit Plans to include representatives of employee ownership organizations.

Source: Congress.gov

Employee Ownership Representation Act

Introduced as S. 1728 by Senator Bill Cassidy (R-LA) on May 13, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 to expand the membership of the Advisory Council on Employee Welfare and Pension Benefit Plans to include representatives of employee ownership organizations.

Source: Congress.gov

Helping Young Americans Save for Retirement Act

Introduced as S. 1707 by Senator Bill Cassidy (R-LA) on May 12, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to minimum participation standards for pension plans and qualified trusts.

Source: Congress.gov

Universal Savings Accounts Act

Introduced as S. 1581 by Sen. Ted Cruz (R-TX) on May 1, 2025.

This bill would establish Universal Savings Accounts, which would be tax-advantaged savings accounts that participants could save, invest, and withdraw from for any reason, with a total contribution limit of $25,000.

Source: Congress.gov

Retirement Savings for Americans Act

SENATE BILL

Introduced as S. 1526 Sens. John Hickenlooper (D-CO) and Thom Tillis (R-NC) on April 30, 2025.

This bill would establish a retirement account for employees without access to an employer-sponsored retirement plan, creating a government-sponsored automatic enrollment retirement plan.

Source: Congress.gov

HOUSE BILL

Introduced as H.R. 2696 by Reps. Lloyd Smucker (R-PA) and Terri Sewell (D-AL) on April 7, 2025.

The American Worker Retirement Plan

Introduced as H.R. 2696 by Rep. Lloyd Smucker (R-PA) on April 7, 2025.

This bill would establish the American Worker Retirement Plan, which would improve the financial security of working Americans by facilitating the accumulation of wealth.

Source: Congress.gov

Protecting Prudent Investment of Retirement Savings Act

Introduced as H.R. 2988 by Representative Rick Allen (R-GA) on April 24, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes.

Source: Congress.gov

Worker Relief and Credit Reform Act of 2025

Introduced as H.R. 2338 by Representative Gwen Moore (D-WI) on March 25, 2025.

This bill would amend the Internal Revenue Code of 1986 to expand and improve the earned income tax credit.

Source: Congress.gov

Women’s Retirement Protection Act

SENATE BILL

Introduced as S. 988 by Sen. Tammy Baldwin (D-WI) on March 12, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 to provide for greater spousal protection under defined contribution plans, and for other purposes.

Source: Congress.gov

HOUSE BILL

Introduced as H.R. 2023 by Rep. Lauren Underwood (D-IL) on March 11, 2025.

This bill would amendment the Employee Retirement Income Act of 1974 to provide for greater spousal protection under defined contribution plans, and for other purposes.

Source: Congress.gov

Protecting Americans’ Retirement Savings Act (PARSA)

SENATE BILL

Introduced as S. 928 by Senator Jim Banks (R-IN) on March 11, 2025.

This bill would amend the Employment Retirement Income Security Act of 1974 to prohibit plan investments in foreign adversary and sanctioned entities, require disclosure of existing investments in such entities, and for other purposes.

Source: Congress.gov

HOUSE BILL

Introduced as H.R. 2067 by Representative John Moolenaar (R-MI) on March 11, 2025.

This bill would amend the Employment Retirement Income Security Act of 1974 to prohibit plan investments in foreign adversary and sanctioned entities, require disclosure of existing investments in such entities, and for other purposes.

Source: Congress.gov

Gross Income Capital Gains

Introduced as S. 930 by Senator Mitch McConnell (R-KY) on March 11, 2025.

This bill would amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans.

Source: Congress.gov

WISH Act

Introduced as H.R. 2082 by Representative Thomas Suiozzi (D-NY) on March 11, 2025.

This bill would amend title II of the Social Security Act, primarily to provide for long-term care insurance benefits.

Source: Congress.gov

Retirement Proxy Protection Act

Introduced as H.R. 1996 by Representative Erin Houchin (R-IN) on March 10, 2025.

This bill would amend the Employee Retirement Income Security Act of 1974 to clarify the application of prudence and exclusive purpose duties to the exercise of shareholder rights.

Source: Congress.gov

Social Security Expansion Act

SENATE BILL

Introduced as S. 770 by Senator Bernie Sanders (I-VT) on February 27, 2025.

This bill is intended to enhance Social Security benefits and ensure the long-term solvency of the Social Security program through edits made to benefits, computation of cost-of-living, taxation and the establishment of a Social Security Trust Fund.

Source: Congress.gov

HOUSE BILL

Introduced as H.R. 1700 by Representative Val Hoyle (D-OR) on February 27, 2025.

This bill is intended to enhance Social Security benefits and ensure the long-term solvency of the Social Security program through edits made to benefits, computation of cost-of-living, taxation and the establishment of a Social Security Trust Fund.

Source: Congress.gov

Bill on the Provision of Portable Benefits

Introduced as H.R. 1320 by Representative Kevin Kiley (R-CA) on February 13, 2025.

This bill would ensure that the provision of portable benefits to an individual is not considered in determining whether such individual is an employee of a person.

Source: Congress.gov

The Retirement Fairness for Charities and Education Institutions Act

SENATE BILL

Introduced as S. 424 by Senators Katie Britt (R-AL), Raphael Warnock (D-GA), Bill Cassidy (R-LA) and Gary Peters (D-MI) on February 6, 2025.

This bill would allow 403(b) plans to include collective investment trusts and insurance contracts as part of their investment options, in addition to the 401(k) plans that currently offer these investment options.

Source: Congress.gov

HOUSE BILL

Introduced as H.R. 1013 by Representatives Frank Lucas (R-OK), Bill Foster (D-IL) and Andy Barr (R-KY) on February 5, 2025.

This bill would allow 403(b) plans to include collective investment trusts and insurance contracts as part of their investment options, in addition to the 401(k) plans that currently offer these investment options.

Source: Congress.gov

Protecting Social Security Act

Introduced as H.R. 963 by Representative Patrick Ryan (D-NY) on February 4, 2025.

This bill would require expedited consideration of a bill that addresses the insolvency of the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund in the case that either trust fund becomes insolvent.

Source: Congress.gov

Social Security Fairness Act of 2023

Introduced as H.R. 82 by Representative Garret Graves (R-LA) on January 9, 2023 and passed into law on January 5, 2025.

1. This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government.
2. The bill eliminates the government pension offset, which in various instances reduces Social Security benefits for spouses, widows, and widowers who also receive government pensions of their own.
3. The bill also eliminates the windfall elimination provision, which in some instances reduces Social Security benefits for individuals who also receive a pension or disability benefit from an employer that did not withhold Social Security taxes.

These changes are effective for benefits payable after December 2023.

Source: Congress.gov