1. Short title and table of contents (a) Short title This Act may be cited as the Savings Account for Every American Act of 2018 . (b) Table of contents The table of contents is as follows: Sec. 1. Short title and table of contents. TITLE I—Personal retirement program Sec. 101. Definitions. Sec. 102. S.A.F.E. account payroll deduction programs. Sec. 103. Designation of S.A.F.E. accounts. Sec. 104. Self-employed individuals. Sec. 105. Elective participation. Sec. 106. Penalties. Sec. 107. Federal civilian and military personnel. TITLE II—Tax-exempt S.A.F.E. accounts Sec. 201. S.A.F.E. accounts. Sec. 202. Effective date. TITLE III—Conforming amendments to the Social Security Act and the Internal Revenue Code of 1986 Sec. 301. Reductions in and exemptions from FICA taxes and SECA taxes with respect to eligible individuals. Sec. 302. Exclusion of eligible individuals from old-age, survivors, and disability insurance coverage. Sec. 303. Information provided in social security account statements. I Personal retirement program 101. Definitions For purposes of this title— (1) Account holder The term account holder means, with respect to any S.A.F.E. account, the individual for whose benefit such account is maintained. (2) Business day The term business day means any day other than a Saturday, Sunday, or legal holiday in the area involved. (3) Covered employer The term covered employer means, for any calendar year, a person for whom an eligible individual is engaged in employment during the year. (4) Eligible individual The term eligible individual means any individual with respect to whom there is in effect an election under section 105(a). (5) Employment The term employment has the meaning provided in section 210 of the Social Security Act. (6) Prescribed employee contribution The term prescribed employee contribution means, with respect to any eligible individual who is engaged in employment for a covered employer during any calendar year, an amount equal to 6.2 percent of the wages received by such employee with