S 2446
Women's Retirement Protection Act
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Bill overview
The Women’s Retirement Protection Act aims to improve retirement security for women by strengthening spousal protections in defined contribution pension plans and expanding access to retirement benefits for part-time workers. Specifically, it requires employers to obtain spousal consent for distributions from defined contribution plans, except in limited circumstances, and allows certain long-term part-time workers to participate in retirement plans. The bill also directs the Department of Labor’s Women’s Bureau to provide financial literacy grants to community organizations and supports efforts to assist low-income women and survivors of domestic violence in obtaining qualified domestic relations orders.
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