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Mandatory Retirement Savings: All Employees Must Have FERS-Equivalent Plans.

This law mandates that every employer must provide employees with a retirement program comparable to the Federal Employees Retirement System (FERS) or enroll them directly in FERS. This requirement also applies to self-employed individuals. The goal is to ensure universal access to retirement savings, supported by tax credits for small businesses and penalties for non-compliance.
Key points
Universal Coverage: All employers must offer employees a retirement plan (private or FERS) with benefits equivalent to the Federal Employees Retirement System (FERS).
Financial Support: Small businesses (revenue up to $25M) and lower-income self-employed individuals receive a 50% federal subsidy for mandatory employer/self-employed contributions.
Compensation Protection: Employers are prohibited from reducing an employee's current compensation due to the requirement to implement the new retirement program.
Non-Compliance Penalties: Daily financial penalties ($10 per day per employee) are introduced for employers and self-employed individuals who fail to meet the retirement program requirements.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2335
Sponsor: Sen. Sanders, Bernard [I-VT]
Process start date: 2025-07-17
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Pensions for All Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2335.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-17.

What are the main provisions?

Key points include:

  • Universal Coverage: All employers must offer employees a retirement plan (private or FERS) with benefits equivalent to the Federal Employees Retirement System (FERS).
  • Financial Support: Small businesses (revenue up to $25M) and lower-income self-employed individuals receive a 50% federal subsidy for mandatory employer/self-employed contributions.
  • Compensation Protection: Employers are prohibited from reducing an employee's current compensation due to the requirement to implement the new retirement program.
  • Non-Compliance Penalties: Daily financial penalties ($10 per day per employee) are introduced for employers and self-employed individuals who fail to meet the retirement program requirements.
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. Sanders, Bernard [I-VT].

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 2025-12-31.

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