PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 16, 2002
Retirement Security for All Americans Act - Amends the Internal Revenue Code to permit a tax credit for an applicable percentage of up to $2,000 in retirement savings contributions of an individual. Excludes dependents and full-time students from being eligible for the credit, and reduces the amount considered for the credit by the amount of certain distributions received by an individual.Repeals the nonrefundable credit for elective deferrals and IRA contributions.Imposes a tax on any failure by an employer that does not have a qualified plan or arrangement for a calendar year to permit its employees access to salary reduction contributions to individual retirement plans. Makes an exception for certain small employers. Permits a tax credit for small employers that maintain salary reduction arrangements.Allows a tax credit for a duration of three years for pension plan contributions of small employers.
People & committees
Sen. Bingaman, Jeff [D-NM] · D–NM
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S6870-6871)
Introduced in Senate
Primary sources
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Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.
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