Gig Workers, Listen Up!

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According to the New York Times, most gig economy workers lag behind those with traditional jobs in saving for retirement. However, parts of a new federal law can help them catch up.

Questions:

  1. What is the Act called?
  2. When will the direct government contributions to retirement accounts for low- and moderate-income workers start?
  3. How much will the Federal government deposit?
  4. What are the limits required for eligibility?

Sources:

Carnes, A. (2023). For Freelancers, New Federal Help in Saving for Retirement. The New York Times, Jan. 6 (Retrievable online at https://www.nytimes.com/2023/01/06/your-money/secure-act-retirement-freelancers-gig-workers.html?)