This bill would require all employers to give workers a real pension option: either a retirement plan with benefits like the Federal Employees Retirement System (FERS), or the chance to join FERS itself .

To help pay for this, it creates a tax credit that can cover up to 50% of pension contributions for eligible small employers and self‑employed people. The credit phases out for bigger companies and for higher‑income self‑employed. For employers, the 50% credit starts to shrink once annual gross receipts go over $25 million and drops to zero by $100 million. For self‑employed people, the 50% credit starts to shrink once income is over $75,000 and drops to zero by $125,000. You can’t “double dip” by claiming other tax breaks for the same contributions. For businesses, this credit counts as part of the general business credit .

Key points:

• Who is affected: All employers and many self‑employed people. Employers must offer a FERS‑like plan or let workers join FERS. Eligible small employers and self‑employed can get a new tax credit to help with contributions .
• What changes: Up to a 50% tax credit on qualified pension contributions, phasing out between $25M–$100M in receipts for employers, and $75k–$125k in income for self‑employed. No double benefits with other tax breaks; for employers it’s part of the general business credit .
• When: The excerpt does not state an effective date .