Encouraging Americans to Save Act

Summary

Encouraging Americans to Save Act This bill replaces the existing saver's tax credit for certain individuals who contribute to retirement accounts with federal matching payments. For individuals with incomes that do not exceed specified levels, the bill requires the federal government to provide matching contributions equal to 50% of up to $1,000 in annual contributions to retirement accounts. The bill also requires the Department of the Treasury to reestablish the MyRA program, which is a program that establishes and maintains Roth Individual Retirement Accounts for individuals. The investments in the accounts are limited to retirement savings bonds issued by Treasury.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 November 2018

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 November 2018

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 November 2018

  Open at official source

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