Spousal Consent Proposal Re-Introduced in Senate

Senators Tammy Baldwin (D-WI), and Patty Murray (D-WA) along with several other co-sponsors have reintroduced the Women's Retirement Protection Act in the Senate. According to a press release, the legislation aims to do the following.

• Create spousal protections (similar to 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.