Bill · S. 2217· Senate(119-S-2217)
Independent Retirement Fairness Act
- Introduced
- 7/9/2025
- Last activity
- 7/9/2025 — Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Sponsored by
- Bill Cassidy
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, called the "Independent Retirement Fairness Act," aims to improve retirement options for independent workers by allowing them to participate in pooled employer plans and simplifying pension options. It also directs the Treasury and Labor Departments to create pilot programs that will encourage independent workers to save for retirement. Finally, the bill seeks to streamline auditing requirements for certain retirement plans.
Yes· 3 of 21
Would business owners be better off under this?+7
Reduces the burden of offering benefits to contractors and lowers audit costs.
Would people in their twenties and thirties be better off under this?+6
Provides gig economy workers (often younger) with accessible retirement savings tools.
Would people in middle age be better off under this?+6
Enables independent workers to build retirement security through pooled plans.
The opposite
Does this give people more control over their personal data?-2
Allows employers and trade associations to share data on independent workers to facilitate plan maintenance.
Who it would affect, and how
Potential Positive Impacts for People
-
Pooled Employer Plans for Independent Workers (Section 2): This section allows independent workers and trade associations to participate in pooled employer plans, potentially giving independent workers access to more affordable and manageable retirement savings options.
-
Simplified Employee Pensions for Independent Workers (Section 3): This section lets employers treat independent workers like employees for pension purposes, offering more flexibility in how they contribute to retirement savings. Independent workers can also elect to contribute cash bonuses to their pension.
-
Pilot Programs for the Gig Economy (Section 6): The creation of pilot programs to encourage retirement savings could help independent workers save for retirement by rounding down compensation and automatically contributing the extra amount, or designating an amount to be deducted from each paycheck.
Potential Negative Impacts for People
- Rule of Construction Regarding Employment Status (Section 2(iii)): This section states that participation in a pooled employer plan does not automatically make an independent worker an employee under any federal, state, or local law. This could mean that independent workers might not gain employee benefits or protections beyond retirement savings.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+7Good For Low Income Households+6Good For Middle Aged+6Good For Young Adults+6Good For Middle Class Households+5Good For Farmers+4Good For African Americans+3Good For Asian Americans+3Good For Hispanic Americans+3Good For Men+3Good For Native Americans+3Good For Rural Residents+3Good For Urban Residents+3Good For White Americans+3Good For Women+3Good For High Income Households+2
- Economy And Finance
- Improves Small Business Support+5Reduces Middle Class Taxes+2Reduces Small Business Taxes+2Improves Economic Growth+1
- Social Issues And Justice
- Improves Poverty Reduction+3
- Education And Technology
- Improves Data Privacy-2
- 7/9/2025
- Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Introduced in Senate