Human Resources
Retirement Savings Proposals—Summary of Key Provisions

Retirement Savings Proposals—Summary of Key Provisions


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Three different proposals have recently emerged from Washington D.C., each seeking to improve access to retirement plan savings vehicles. Each of these proposals is primarily targeted at employees of small employers who do not currently sponsor defined benefit (DB) or defined contribution (DC) retirement plans. This Aon Hewitt bulletin provides a high-level summary of the following three proposals:

  • myRA (Announced by President Obama in January 28 State of the Union Address);
  • The Retirement Security Act of 2014 (RSA-2014) (Introduced to Senate by Sens. Collins (R-ME) and Nelson (D-FL) on January 29th); and
  • The Universal, Secure, and Adaptable Retirement Funds (USARF) Act (Introduced to Senate by Sen. Harkin (D-IA) on January 30th).

A comparison chart is also included in this bulletin.

For additional information or updates, please contact Alan Parikh and Meghan Lynch.

Download Retirement Savings Proposals—Summary of Key Provisions