H.R. 6136: USA Retirement Funds Act

114th Congress · introduced 2016-09-22 · Labor and Employment · Latest: Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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.

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Follow this bill, step by step

Where it came from: introduced 2016-09-22 · official record
Who proposed it: Rep. Cartwright, Matt [D-PA-17] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

USA Retirement Funds Act

Plain summary

USA Retirement Funds Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to require employers who do not already offer specified retirement plans to provide tax-exempt retirement funds (USA Retirement Fund arrangements) to their employees. The bill includes exemptions for certain small or new employers, governments, and churches. Employees may elect to contribute to the funds using payroll deductions (or other periodic direct deposits) or to receive payments directly in cash. Unless employees opt out of a fund or elect a different contribution amount, they are automatically enrolled to make contributions that begin with 3% of annual compensation in 2017 and eventually increase to 6% after 2019. The Department of Labor must review and select retirement plans that qualify for the funds. The bill establishes a board of trustees to administer the funds and a commission to advise Labor regarding the funds. An employee may not contribute more than $15,000 per year to a fund. Employers may contribute up to $5,000 per year on behalf of an employee. The limits must be adjusted annually for inflation. The funds must pay benefits to employees in the form of an annuity, in accordance with specified requirements. The bill establishes limits on withdrawals and transfers from the funds. It also establishes civil and criminal penalties to enforce the requirements for the funds and prevent fraud. The funds are tax-exempt, and the bill specifies requirements for the tax treatment of contributions, rollover contributions, and distributions. The bill also specifies reporting and disclosure requirements for the funds.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

USA Retirement Funds Act

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Cartwright, Matt [D-PA-17] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Stephen F. Lynch (D-MA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr6136.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr6136 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114