New Bipartisan Retirement Plan Proposal: What It Means for Gig Workers

A bipartisan effort in Congress — led by Sen. Hickenlooper (D-CO), Sen. Tillis (R-NC), Rep. Smucker (R-PA), and Rep. Sewell (D-AL) — is pushing to expand retirement access for the millions of Americans who don't have employer-sponsored plans. The proposal would give these workers access to a plan similar to the federal Thrift Savings Plan (TSP) — the 401(k)-style plan used by government employees.

The Wall Street Journal reported that the plan would feature low-cost investment options, including diversified target-date funds — the same ones that federal workers already enjoy.

The Thrift Savings Plan is one of the best retirement plans in America. Federal employees pay expense ratios as low as 0.04% — compared to 0.5-1.0% in most private 401(k) plans. Over a career, that difference compounds into tens of thousands of dollars.

Opening TSP-style access to gig workers would be transformative. But legislation takes time — years, sometimes decades. And gig workers can't wait.

We didn't wait for the proposal. Gigaverse's PRActicle™ (Portable Retirement Account) launched before Congress started moving on this and offers:

• Solo 401(k) and Roth IRA options tailored for 1099 workers
• Low-cost, diversified investment options with long-term growth potential (historical market returns, not guaranteed)
• Auto-contributions from every gig across every connected platform
• Commission-free investing
• Saver's Match readiness (up to $1,000/year starting 2027)

The proposal still needs to go through Congress. Details on eligibility, contribution limits, and the investment options are still being worked out. Historically, retirement legislation moves slowly — SECURE 2.0 took years to pass.

In the meantime, gig workers can take action today:

1. Don't wait for legislation. Open a retirement account now.
2. Start small. Even $5/day compounds into serious wealth over time.
3. Maximize deductions. Mileage ($0.725/mi), No Tax on Tips ($25K), and health insurance premiums all reduce your tax bill.
4. Position for the Saver's Match. When it launches in 2027, having an active account means you're first in line for up to $1,000/year free.

This proposal is a signal. Washington recognizes that the gig economy is permanent — and that leaving 70 million workers without retirement infrastructure is unsustainable.

Gigaverse was built on this thesis. We're not reacting to a policy moment. We anticipated it. And when the legislation catches up, we'll be the platform that's already serving millions of workers.