Congress wants to overhaul retirement plans. Here’s what might be coming.

For workers earning less than $71,000 per year, the federal government would provide a 50 percent match up to $2,000 in employee cash contributions, meaning the government would provide a maximum of $1,000. That cash would be deposited directly into the retirement accounts. Under current law, the matching program is a tax credit — but that doesn’t help lower-earning workers who don’t owe taxes.

“This is a big deal,” Hansen said. “It will help current savers save more and bring newer people in the system, knowing there is government match.”