arrow_back Back to App

Easier Retirement Savings for Independent Workers

This act aims to make it easier for independent workers, such as freelancers and contractors, to save for retirement. It introduces new ways for them to participate in retirement plans and simplifies rules for employers offering such plans. This means more self-employed individuals can build their financial security for the future.
Key points
Independent workers can join pooled employer retirement plans as if they were employees, without changing their legal employment status.
Simplified rules for Simplified Employee Pensions (SEPs) for independent workers, allowing them to contribute bonuses directly to their retirement accounts.
Pilot programs will be established to enable independent workers to automatically save small amounts or fixed sums for retirement, for example, by rounding down their pay.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2217
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-07-09
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Independent Retirement Fairness Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2217.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-09.

What are the main provisions?

Key points include:

  • Independent workers can join pooled employer retirement plans as if they were employees, without changing their legal employment status.
  • Simplified rules for Simplified Employee Pensions (SEPs) for independent workers, allowing them to contribute bonuses directly to their retirement accounts.
  • Pilot programs will be established to enable independent workers to automatically save small amounts or fixed sums for retirement, for example, by rounding down their pay.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cassidy, Bill [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Labor Taxes Benefits