S 988
Women's Retirement Protection Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Women’s Retirement Protection Act aims to improve retirement security for women by addressing gaps in spousal protections within defined contribution retirement plans. Specifically, it mandates that these plans require spousal consent for certain distributions and beneficiary designations, similar to how traditional defined benefit plans operate. The bill also seeks to increase financial literacy among women, particularly those facing economic challenges, through grants to community organizations and assistance with obtaining qualified domestic relations orders in divorce proceedings. It builds upon the SECURE 2.0 Act to further strengthen retirement savings for women.
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