H.R.2696

H. R. 2696

April 7, 2025

Mr. Smucker (for himself, Ms. Sewell, Ms. Malliotakis, Ms. Tenney, Mr. Fitzpatrick, Mrs. Miller of West Virginia, and Mr. Smith of Nebraska) introduced the following bill; which was referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes.

1. Short title; table of contents; 2. Definitions; 3. Relationship to Social Security; 4. Government benefits; TITLE I—THE AMERICAN WORKER RETIREMENT PLAN; 101. The American Worker Retirement Fund; 102. Investment of American Worker Retirement Fund; 103. Eligibility; 104. Enrollment; 105. Contributions; 106. Distributions; 107. Accounts; 108. Tax treatment; 109. Spousal protections; survivor rights; TITLE II—THE AMERICAN WORKER RETIREMENT PLAN INVESTMENT MANAGEMENT SYSTEM; 201. The American Worker Retirement Investment Board; 202. The American Worker Retirement Plan Advisory Council; 203. Executive Director; 204. Investment policies and selection of asset managers; 205. Administrative provisions; 206. Fiduciary responsibilities; liability and penalties; 207. Bonding; 208. Investigative authority; 209. Exculpatory provisions; insurance; 210. Subpoena authority; TITLE III—GOVERNMENT MATCH TAX CREDIT; 301. Government Match Tax Credit

Government Match Tax Credit