US SB1526

Establishes the American Worker Retirement Fund in the U.S. Treasury for workers without access to employer retirement plans, including employees of businesses without 401(k)s and self-employed independent contractors

Creates automatic enrollment at 3% of compensation with opt-out option; participants can contribute up to IRS limits and select from investment options including government securities, fixed-income, stock index funds, and target-date lifecycle funds

Provides a Government Match Tax Credit of 1% of gross income plus matching contributions (100% match on first 3% of income contributed, 50% match on next 2%), with the credit capped at 5% of income and phasing out above 200% of median income for joint filers

Creates the American Worker Retirement Investment Board (5 presidential appointees) to oversee investment policies and an Executive Director to manage the Fund, modeled after the federal Thrift Savings Plan structure

Account balances are fully owned by participants, protected from creditors, excluded from federal benefit eligibility calculations for those under 65, and supplement (not replace) Social Security benefits