Hearings
- Examining the Policies and Priorities of the Pension Benefit Guaranty Corporation (March 20, 2024)
- Taking a Serious Look at the Retirement Crisis in America: What Can We Do to Expand Defined Benefit Pension Plans for Workers? (February 28, 2024)
- Protecting American Savers and Retirees from DOL’s Regulatory Overreach (February 15, 2024)
- Examining the DOL Fiduciary Rule: Implications for Retirement Savings and Access (January 10, 2024)
RFIs
- Senator Cassidy RFI on Independent Workers (closed June 26, 2024)
- Senator Sanders RFI on Retirement Security (closed February 28, 2024)
Legislative Proposals
National Savings Proposals
- To view side-by-side comparison of provisions of the Hickenlooper and Neal universal access bills, click here (login required).
Other Reform Proposals
- Small Nonprofit Retirement Security Act of 2024
- Expanding Access to Capital Act of 2023
- The Automatic IRA Act of 2024
- The Helping Young Americans Save for Retirement Act
- The 401Kids Savings Act of 2024
- The Retirement Investment in Small Employers Act of 2024
- Safeguarding Investment Options for Retirement Act
Legislative Proposals
Expanding Access to Capital Act of 2023
HOUSE BILL
Introduced as H.R.2799 by Representative Patrick McHenry (R-NC) on April 24, 2023 and passed the House on March 8, 2024. This bill seeks to make reforms to the capital markets of the United States. It allows 403(b)s to invest in collective investment trusts, among other provisions.
Source: Congress.gov.
The Automatic IRA Act of 2024
HOUSE BILL
Introduced as H.R.7293 by Representative Richard Neal (D-MA) on February 7, 2024.
This bill seeks to establish a federal auto-IRA for employers with more than 10 employers that do not currently sponsor a retirement plan. This bill would require employees be automatically enrolled in an IRA or some other qualified plan such as a 401(k).
Source: Bill summary here.
The Helping Young Americans Save for Retirement Act
HOUSE BILL
Introduced as H.R. 9281 by Representative Brittany Pettersen on August 2, 2024.
This bill seeks to help more Americans ages 18 to 20 years old access employer-sponsored retirement plans by amending the Employee Retirement income Security Act of 1974 and the Internal Revenue Code of 1986. It would require employers to offer 401(k) plans to employees as young as 18 and work to reduce regulations that discourage employers from offering such plans to workers under 21.
Source: National Association of Plan Advisors.org & Congress.gov
The 401Kids Savings Act of 2024
SENATE BILL
Introduced as S 3716 by Senator Robert Casey (D-PA) on January 31, 2024.
This bill seeks to establish a children’s savings account (CSAs) for every single child in the United States. Funds from accounts could be used for post-secondary education, starting a business, buying a house, or retirement security.
Source: Congress.gov.
HOUSE BILL
Introduced as H.R.7162 by Representative Don Beyer (D-VA) on January 31, 2024.
This bill seeks to establish a children’s savings account (CSAs) for every single child in the United States. Funds from accounts could be used for post-secondary education, starting a business, buying a house, or retirement security.
Source: Congress.gov.
The Retirement Investment in Small Employers (RISE) Act of 2024
SENATE BILL
Introduced as S. 4398 by Senators Margaret Hassan (D-NH) and Ted Budd (R-NC) on May 23, 2024.
This bill would increase the minimum tax credit from a threshold of $500 to $2,500 for small businesses with less than 10 employees to help them cover the costs of establishing a pension plan for their workers.
Source: National Association of Plan Advisors.org & Congress.gov.
Safeguarding Investment Options for Retirement
HOUSE BILL
Introduced as H.R.7780 by Representative Gregory Murphy (R-NC) on March 21, 2024.
This bill seeks to ensure that retirement plans make investment decisions on the basis of financial risk and returns rather than any other factors. Through doing so, this bill hopes to reduce political influence in retirement investing.
Source: Congress.gov.
Small Nonprofit Retirement Security Act of 2024
SENATE BILL
Introduced as S. 4965 by Senator James Lankford (R-OK) on August 1, 2024.
This bill would amend the Internal Revenue Code of 1986 to make the credit for small employer pension plan startup costs and auto-enrollment credit available to tax-exempt eligible small employers. This bill aims to incentivize small businesses to establish pension plans for their workers.
Source: Congress.gov