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HR 5887119th CongressIn Committee
Saving for the Future Act
Introduced: Oct 31, 2025
Sponsor: Rep. Peters, Scott H. [D-CA-50] (D-California)
Standard Summary
Comprehensive overview in 1-2 paragraphs
Establishes a universal personal savings program with automatic enrollment and employer contributions for private-sector workers.
Key Points
- 1Creates UP Account system with automatic enrollment
- 2Requires minimum employer contributions based on hours worked
- 3Establishes Federal Universal Personal Savings Investment Board
- 4Provides tax credits for small employers and individuals
- 5Includes both retirement and short-term savings accounts
Impact Areas
Private-sector workersRetirement securityEmployersFederal savings programs
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