Your Retirement Plans Will Change With the $1.7 Trillion Federal Spending Bill

Congress is poised to approve a $1.7 trillion spending bill this week that seeks to avert a government shutdown and boost the savings of Americans by making significant changes to their retirement plans.

The primary goal of the massive legislation, which has strong bipartisan support and is expected to be signed by President Biden, is to fund the government through the fiscal year ending September 2023. But it also contains a legion of agenda items including fresh aid to Ukraine, reforms of federal election laws, a major boost to military spending—and even a ban of TikTok on government-issued devices.