Pensions for All Proposed

Senator Bernie Sanders (I-VT) has released proposed legislation titled the Pensions for All Act. According to a press release, the bill would require corporations to do one of the following.

• Provide a traditional pension plan for their workers that is at least equivalent to the plan provided to new members of Congress under the Federal Employees Retirement System (FERS), or
• Pay into the federal retirement system at a level that ensures all of their workers receive the same amount of retirement benefits as members of Congress. 

The press release also notes that the legislation would offer reduced contribution requirements for self-employed workers and small businesses.