To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 regarding pension plans for independent workers, 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 amend the Employee Retirement Income Security Act of 1974 and the
Internal Revenue Code of 1986 regarding pension plans for independent workers, and for
other purposes., changes federal law or congressional policy affecting workers, employers, and labor regulators. The main policy domain is Labor, Environment, Finance.
Who Benefits and How
workers, employers, and labor regulators 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, workers, employers, and labor regulators may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Independent Retirement Fairness Act.
- Section id8f336edadfb141858e1df8742a29e200: 2. Pooled employer plans for independent workers Section 3(43) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(43)) is amended by adding...
- Section idcd83a462ea634a40b56ede36f20b42e5: 3. Simplified employee pensions for independent workers Subsection (k) of section 408 of the Internal Revenue Code of 1986 is amended by redesignating...
- Section idd4741a4733894ba19938401a8356fe16: 4. Simplification of auditing requirements for groups of plans Section 202 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (29 U.S.C....
- Section id3d25c875f66c4043b2f172cc4295c9c2: 5. Simplification of auditing for pooled employer plans Section 3(43) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(43)), as amended...
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 amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 regarding pension plans for independent workers, and for other purposes., changes federal law or congressional policy affecting workers, employers, and labor regulators.
Key Policy Areas
Labor, Environment, Finance
Primary Purpose
This bill, To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 regarding pension plans for independent workers, and for other purposes., changes federal law or congressional policy affecting workers, employers, and labor regulators.
Policy Domains
Whole bill
Identified Gains
- workers, employers, and labor regulators
Identified Costs
- federal implementing agencies
- workers, employers, and labor regulators
Sponsors
Legislative Progress
IntroducedMr. Cassidy introduced the following bill; which was read twice …
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
an account that is established and maintained on behalf of an independent worker that— allows for the deposit of amounts by the independent worker, including the amounts described in paragraphs (1) and (2) of subsection (a)
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