To amend the Internal Revenue Code of 1986 to provide for employer retirement savings accounts, and for other purposes.

H.R. 1161 aims to simplify the private pension system by consolidating several types of employer-sponsored defined contribution plans into a single type of account called an Employer Retirement Savings Account (ERSA). This bill would streamline the rules for these accounts, replacing the various regulations that currently govern 401(k), 403(b), and governmental 457(b) plans with a uniform set of standards. For employees, the bill is intended to make retirement saving more predictable by establishing consistent rules for employer matching, contribution limits, and how quickly workers become fully entitled to their employer's contributions.