Saving for the Future Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5887 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5887 To establish a universal personal savings program, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES October 31, 2025 Mr. Peters (for himself and Mrs. Torres of California) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, 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 _______________________________________________________________________ A BILL To establish a universal personal savings program, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Saving for the Future Act''. SEC. 2. FINDINGS. Congress finds as follows: (1) 3 out of 10 private-sector workers lack access to any workplace retirement plan, according to a Bureau of Labor Statistics report from a 2023 report. (2) A retirement study conducted by the Government Accountability Office found that 48 percent of households age 55 and older have no retirement savings in a defined contribution plan or individual retirement account, and nearly 30 percent of households age 55 and older have no retirement savings and no defined benefit plan. (3) A 2022 report on the economic well-being of United States households conducted by the Federal Reserve found that 28 percent of non-retirees reportedly did not have any retirement savings, and that 60 percent of non-retirees with self-directed retirement accounts expressed low levels of confidence in their ability to make the right investment decisions when investing in such accounts. SEC.