Pensions for All Act requires employers to provide retirement plans equivalent to FERS.
The Pensions for All Act mandates that employers must either offer a retirement plan to their employees that matches the benefits of the Federal Employees Retirement System (FERS) or enroll their employees in FERS. Self-employed individuals must also either enroll in a FERS-equivalent retirement plan or participate in FERS. Employers and self-employed individuals can choose to reduce their contributions based on their revenue or income. The bill also imposes a tax on employers and self-employed individuals who fail to comply with these requirements.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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