Bills · HR 5887
IN COMMITTEE· 119TH CONGRESS
House BillHR 5887Labor and Employment
Saving for the Future Act
INTRO OCT 31· LAST ACTION OCT 31
READING
25MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill addresses a significant challenge for many Americans: the lack of adequate retirement savings. Many workers, especially in the private sector, don't have access to employer-sponsored retirement plans, leading to potential financial insecurity in their later years. If this bill becomes law, it would significantly expand access to employer-supported retirement savings, helping more people build a financial cushion for their future.
Without this bill, the current trend of many Americans nearing retirement age with little to no savings is likely to continue, potentially increasing reliance on social safety nets. By making employer contributions mandatory for most businesses, this bill aims to encourage broader participation in retirement planning, potentially leading to greater financial stability for future retirees and reducing the strain on public assistance programs.
KEY PROVISIONS
5AI-extractedPROVISION 01
Requires employers with 10 or more full-time equivalent employees to contribute a minimum amount to a retirement savings plan for most workers, starting at 50 cents per hour worked.
This directly addresses the lack of retirement savings for many workers by creating a new, widespread funding mechanism.
PROVISION 02
Offers various ways for employers to meet the savings requirement, including existing plans like 401(k)s, or new 'UP Accounts' and state-facilitated programs.
This provides flexibility for businesses of different sizes to comply without a one-size-fits-all mandate.
PROVISION 03
Establishes a new federal agency called the Federal Universal Personal Savings Investment Board to oversee the new Universal Personal Savings (UP) Accounts.
This creates a dedicated body to manage the infrastructure for the new universal savings program.
PROVISION 04
Mandates that very small employers (under 10 workers) who are not required to contribute must inform their employees about how to set up their own savings accounts and claim a related tax credit.
Even when employer contributions aren't mandated, this ensures all workers are aware of saving opportunities.
PROVISION 05
Stipulates that the minimum contribution amounts will be increased every three years based on the growth in average non-supervisory wages.
This ensures that the employer contributions keep pace with economic changes and remain meaningful over time.
SPONSORSHIP
1 + 1
D· California
YRS IN OFFICE
13
BILLS LED
38
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 1 REP 0 IND 0
ACTION TIMELINE
2 EVENTSOCT 31
Introduced in House
OCT 31
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
BILL INFO
TypeHouse Bill
NumberHR 5887
Congress119th
StatusIn Committee
IntroducedOct 31, 2025
Last actionOct 31, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED OCT 31, 2025
House BillHR 5887Labor and Employment
Saving for the Future Act
INTRODUCED OCT 31, 2025· LAST ACTION OCT 31, 2025
PASSAGE CHANCES
—%
READING
25 min
COSPONSORS
1
COMPLEXITY
Moderate
