U.S. Capitol building at dawn As many people await the fate of The SECURE Act 2.0, the Retirement Savings for Americans Act, which also has bipartisan support, has been introduced in Congress. (Photo: Shutterstock)

As the financial industry waits to see if Congress will act on the long-anticipated SECURE Act 2.0 before adjourning, a bipartisan group of legislators on December 8 introduced a new retirement savings bill.

The Retirement Savings for Americans Act would establish a new program that gives eligible workers access to portable, tax-advantaged retirement savings accounts. It also would offer federal matching contributions for low- and middle-income workers, with the match beginning to phase out at median income. The bill contains these provisions:

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