Pensions for All Act

# Pensions for All Act (S 2335) Summary **What the Bill Would Do:** The Pensions for All Act would create a new retirement savings program available to workers who don't have access to employer-sponsored pensions or 401(k) plans. The bill would establish a government-administered retirement account system, allowing individuals to contribute a portion of their wages toward retirement savings. This would be particularly aimed at workers in smaller companies, part-time employees, and self-employed individuals who currently lack workplace retirement benefits. **Who It Affects and Key Provisions:** The legislation would primarily benefit workers without access to traditional employer retirement plans—a significant portion of the American workforce. Rather than creating private accounts, the program would operate as a centralized system, likely pooling contributions to reduce administrative costs.

The exact contribution rates and benefit formulas would be determined by the bill's specific provisions. **Current Status:** As of now, S 2335 remains in committee and has not advanced to a full Senate vote. This means it's still in the early legislative stage and would require committee approval and broader Congressional support to move forward. The bill reflects growing interest in expanding retirement security options, though any changes to retirement policy would require bipartisan approval to become law.