US SB2335

Requires every employer to either provide employees with a retirement program comparable to the Federal Employees Retirement System (FERS) or enroll employees directly in FERS, with self-employed individuals subject to the same requirements

Provides contribution subsidies for small employers and self-employed individuals, with employers earning under $25 million annually paying only 50% of required contributions, phasing out completely at $100 million in revenue; self-employed individuals earning under $75,000 receive the same 50% reduction

Creates a refundable tax credit for qualified pension contributions, equal to up to 50% of contributions for small employers and self-employed individuals, phasing out based on revenue or income thresholds

Imposes a $10 per day tax penalty on employers and self-employed individuals who fail to maintain required retirement coverage, with an annual cap of $500,000 for unintentional failures and inflation adjustments after 2026

Prohibits employers from reducing any form of employee compensation to offset the costs of providing the required retirement benefits