WISER Act of 2024

Hozzl · 2024-11-18T17:09:03Z

Explore the details of House Bill 9725 WISER Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Armed Forces and National Security. Stay informed on legislative developments.

11/18/2024, 5:09 PM

Summary of Bill HR 9725

The WISER Act of 2024, also known as Bill 118 hr 9725, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to improve retirement security for American workers by expanding access to workplace retirement plans.

One of the key provisions of the WISER Act is the creation of a new type of retirement plan called the Universal Retirement Account (URA). This account would be available to all workers, including those who are self-employed or work for small businesses that do not currently offer retirement plans. The URA would be portable, meaning that workers could take it with them from job to job, and would be managed by a professional investment manager to ensure that it grows over time.

In addition to the URA, the WISER Act also includes provisions to make it easier for small businesses to offer retirement plans to their employees. This includes tax incentives for employers who set up retirement plans and simplified administrative requirements to reduce the burden on small businesses. Overall, the WISER Act of 2024 aims to address the growing retirement crisis in America by expanding access to retirement savings options and making it easier for workers to save for their future. It is currently being debated in Congress, and its supporters argue that it is a crucial step towards ensuring that all Americans can retire with dignity and financial security.

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Current Status of Bill HR 9725

Bill HR 9725 is currently in the status of Bill Introduced since September 20, 2024. Bill HR 9725 was introduced during Congress 118 and was introduced to the House on September 20, 2024. Bill HR 9725's most recent activity was Referred to the Subcommittee on Disability Assistance and Memorial Affairs. as of October 22, 2024

Bipartisan Support of Bill HR 9725

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 9725

Primary Policy Focus

Armed Forces and National Security

Alternate Title(s) of Bill HR 9725

WISER Act of 2024WISER Act of 2024Women Involuntarily Separated Earning Remittance Act of 2024To direct the Secretary of Veterans Affairs and the Secretary of Defense to carry out programs to provide to certain veterans who are women a compensation benefit and an upgrade to the discharge status of such veterans, and for other purposes.

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