Establishes the Portable Benefit Account Act to create accounts for independent contractors to fund benefit plans.

The Portable Benefit Account Act creates accounts for independent contractors to fund benefit plans such as retirement, health insurance, life insurance, and income replacement insurance. These accounts are opened by the independent contractor, administered by a provider, and assigned to a beneficiary. Contributions can be made by the hiring party or through voluntary withholdings from the contractor's compensation, with the contractor's opt-in consent. The act ensures that contributions do not affect employment classification and sets standards for account administration.

Establishes the Portable Benefit Account Act to create accounts for independent contractors to fund benefit plans.

The Portable Benefit Account Act creates accounts for independent contractors to fund benefit plans such as retirement, health insurance, life insurance, and income replacement insurance. These accounts are opened by the independent contractor, administered by a provider, and assigned to a beneficiary. Contributions can be made by the hiring party or through voluntary withholdings from the contractor's compensation, with the contractor's opt-in consent. The act ensures that contributions do not affect employment classification and sets standards for account administration.