{"database": "press", "table": "releases", "rows": [["https://himes.house.gov/press-releases?ID=94A7259B-82F1-487F-BF24-9D6224C98C2A", "Himes, Warner Introduce Portable Retirement Investment Accounts", "2021-09-22", "2021", "2021-09", "Democrat", "House", "CT", "James A. Himes", "H001047", "himes.house.gov", "himes", "https://himes.house.gov/press-releases", "page_html", "Washington, DC\u2014 Today, Congressman Jim Himes (CT-04) and Senator Mark Warner (D-VA) introduced the Portable Retirement and Investment Account (PRIA) Act of 2021. The PRIA Act will create universal, portable retirement and investment accounts that will be accessible to all Americans throughout their lives and move our retirement system into the 21st century.\n\n\u201cThe current retirement system isn\u2019t working for all Americans,\u201d said Himes. \u201cThe options to which American workers have access can differ significantly based on their area of employment and the systems can be needlessly confusing. In addition, many Americans lose access to retirement savings vehicles if they lose their jobs, and gig, contract, and part-time workers are often ineligible. PRIA changes all of this.\u201d\n\n\u201cAmericans are more likely to change jobs and be engaged in non-traditional forms of work than they were a generation ago, but our policies haven\u2019t kept up with these shifts,\u201d Warner said. \u201cAs more and more Americans hold multiple jobs across a career, a year, and even a day, PRIA will provide more workers with access to flexible, portable benefits such as retirement savings that will carry with them from employer to employer and gig to gig.\u201d\n\nCongress needs to act to bring more people into the system and make it easier for Americans to save:\n\nApproximately half of American households do not have access to a 401k retirement account.\n\nThe Federal Reserve calculates that half of Americans have not saved enough to retire at their current standard of living.\n\nWhile 80% of full-time workers have access to retirement savings accounts, only 40% of part-time workers have access.\n\nAccording to the 2020 Report on the Economic Well-Being of U.S. Households by the Federal Reserve, around 35% of Americans work outside of traditional full-time jobs, in the gig economy.\n\nEvery American will receive a PRIA at the same time they receive a Social Security Number. PRIAs will be administered by an independent board and managed by selected financial institutions. After the creation of the initial account, account holders will have the option to choose investment options from a qualified financial institution. Employers can contribute to their employee\u2019s PRIA just like legacy plans like 401ks, but employees who separate from their employer will still have the ability to contribute to the same PRIA plan as before.\n\nAmericans who want to keep their 401ks, IRAs, and other savings plans with which they are familiar will still have those options. PRIAs are designed to supplement the existing system and provide a simple, portable option for those who want it.\n\n\u201cPRIA is going to bring people in from the cold,\u201d Himes continued. \u201cInstead of seeing themselves fall further and further behind in their retirement savings, millions of Americans in non-traditional employment arrangements will have another tool in their retirement toolbox.\u201d\n\nFor more information, contact Patrick Malone at Patrick.malone@mail.house.gov. The full bill is attached.", 1, "2026-03-30T01:40:41Z", "2026-03-30T11:08:25Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://himes.house.gov/press-releases?ID=94A7259B-82F1-487F-BF24-9D6224C98C2A"], "units": {}, "query_ms": 1.4818757772445679, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}