USA Retirement Funds Act

[AI summary unavailable — showing source text] USA Retirement Funds Act - Requires each employer (except certain small employers, governments, and churches) that does not maintain a qualifying plan or arrangement meeting specified criteria for any part of a calendar year to make available to each qualifying employee for the calendar year an automatic USA Retirement Fund arrangement. Defines an "automatic USA Retirement Fund arrangement" as one that covers each qualifying employee of the covered employer for the calendar year and under which a qualifying employee: (1) may elect to contribute to an automatic USA Retirement Fund through payroll deductions or other periodic direct deposits (including electronic payments), or to have such payments made to the employee directly in cash; (2) is treated as having made such an election in a certain amount unless the individual specifically elects not to have such contributions made or to have them made at a different percentage or in a different amount; and (3) may elect annually to modify the selection of the USA Retirement Fund to which contributions are made for such year. Requires an employer to make all contributions on behalf of employees to the USA Retirement Fund the e…