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Lawmakers introduce proposal to allow portable retirement savings accounts

Posted On: Dec. 12, 2022 9:32 AM CST

A bipartisan group of U.S. lawmakers on Dec. 9 introduced the Retirement Savings for Americans Act to create a program that would give workers access to portable, tax-advantaged retirement savings accounts, reports Plansponsor. The proposed bill anticipates providing a menu of low-fee investment options, including target date funds tied to a worker’s estimated retirement date and stock and bond index funds, according to information from Sen. John Hickenlooper, D-Colo., one of the bill’s sponsors.