# 115-hr-7148: USA Retirement Funds Act

115-hr-7148, USA Retirement Funds Act, is a 115th Congress bill sponsored by Rep. Cartwright, Matt [D-PA-8] (D-PA); status 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/115-hr-7148
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 115-hr-7148
- Congress: 115
- Title: USA Retirement Funds Act
- Status: 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.
- Introduced: 2018-11-16
- Sponsor: Rep. Cartwright, Matt [D-PA-8] (D-PA)
- Cosponsors: 0
- Policy area: Labor and Employment
- Touches household money: no
- Last recorded action: 2025-11-18

## 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 2019 and eventually increase to 6% after 2021. 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.

## Related bills

- 115-hr-7299: ASSURE Act of 2018
- 115-hr-7238: Veterans and Servicemembers Employment Rights and Housing Act of 2018
- 115-hr-7192: Early Warning Reporting System Improvement Act of 2018
- 115-hr-7014: Safe Skies Act of 2018
- 115-hr-7005: Wildlife Disease Emergency Act of 2018
- 115-hr-6944: Clean Water Through Green Infrastructure Act

## Sources
- [115-hr-7148 on Congress.gov](https://www.congress.gov/bill/115th-congress/house-bill/7148)

## Related
- [115-hr-7299: ASSURE Act of 2018](https://policyrisk.com/legislation/115-hr-7299)
- [115-hr-7238: Veterans and Servicemembers Employment Rights and Housing Act of 2018](https://policyrisk.com/legislation/115-hr-7238)
- [115-hr-7192: Early Warning Reporting System Improvement Act of 2018](https://policyrisk.com/legislation/115-hr-7192)
- [115-hr-7014: Safe Skies Act of 2018](https://policyrisk.com/legislation/115-hr-7014)
- [115-hr-7005: Wildlife Disease Emergency Act of 2018](https://policyrisk.com/legislation/115-hr-7005)
- [115-hr-6944: Clean Water Through Green Infrastructure Act](https://policyrisk.com/legislation/115-hr-6944)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/115-hr-7148 (as of 2025-11-18).