Spousal Consent Proposal Re-Introduced in House

Representative Lauren Underwood (D-IL) and several co-sponsors have reintroduced the Women's Retirement Protection Act. Bill text for H.R. 2023 is now available.

According to a press release, the legislation aims to do the following.

• Create spousal protections (like those that are available for defined benefit plans) for defined contribution plans.
• Provide grants to community-based organizations to increase financial literacy by providing information and financial tools to women who are of working or retirement age.
• Provide grants to community-based organizations that help women with low income and survivors of domestic abuse get qualified domestic relations orders to receive the retirement benefits that they’re entitled to following a divorce or legal separation.