To establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Labor, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HE6BCA12F3C4E475B81F189B1C899CAB6: 1. Short title; table of contents This Act may be cited as the Retirement Savings for Americans Act of 2023. The table of contents for this Act is as follows:
- Section H2E48ADF01E2A46498ADBF390C150A8BC: 2. Definitions As used in this Act, except as otherwise provided: The term account means an account established and maintained under section 107. The term...
- Section HCA7D4B754DFB496D9FDD45229AB72D33: 3. Relationship to Social Security Except as otherwise provided in this Act, the funds payable under the Fund to participants and former participants are in...
- Section H1BF11944ACE1418C97064B4044BCA637: 4. Government benefits The funds owned by an individual in an account and any contribution made to such funds by a participant or the Secretary of the Treasury...
- Section H3B19E10F4EA44D84859F0FBD5B02959E: 101. The American Worker Retirement Fund There is established in the Treasury of the United States the American Worker Retirement Fund. The Fund shall consist...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Labor, Government Operations
Primary Purpose
This 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., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Smucker (for himself, Ms. Sewell, Mrs. Miller of West …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_labor"
- → Secretary of Labor
- "secretary_of_treasury"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
any qualifying worker who is enrolled to participate in the Fund under section 104(a) and has not opted out of participation under section 104(b)(3). The term participating employer means any business that— employs a qualifying worker
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology