US S2446

Bill

US S2446

Women's Retirement Protection Act

Introduced
07/22/2021

In Committee
07/22/2021

Crossed Over

Passed

Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To amend the Employee Retirement Income Security Act of 1974 to provide for greater spousal protection under defined contribution plans, and for other purposes.

AI Summary

This bill, the Women's Retirement Protection Act, aims to: 1. Increase spousal consent requirements for distributions from defined contribution retirement plans to provide greater spousal protection. This includes requiring spousal consent for most distributions, with some exceptions, and setting standards for the consent process. 2. Improve coverage for long-term part-time workers by requiring 401(k) and 403(b) plans to allow participation after either the existing service requirement or a new 24-month, 500 hours per year requirement, with some exceptions. 3. Provide grants to promote financial literacy for women and to assist low-income women and survivors of domestic violence in obtaining and effectuating qualified domestic relations orders to secure their retirement benefits in divorce. The bill seeks to address the retirement savings gap between men and women by enhancing spousal protections, increasing access to retirement plans, and providing educational resources and legal assistance to vulnerable women.

Committee Categories

Health and Social Services

Sponsors (26)

Patty Murray (D)*, Tammy Baldwin (D), Michael Bennet (D), Richard Blumenthal (D), Cory Booker (D), Sherrod Brown (D), Maria Cantwell (D), Bob Casey (D), Catherine Cortez Masto (D), Tammy Duckworth (D), Dick Durbin (D), Dianne Feinstein (D), Kirsten Gillibrand (D), Mazie Hirono (D), Tim Kaine (D), Amy Klobuchar (D), Bob Menendez (D), Jeff Merkley (D), Alex Padilla (D), Jacky Rosen (D), Bernie Sanders (I), Jeanne Shaheen (D), Tina Smith (D), Debbie Stabenow (D), Elizabeth Warren (D), Ron Wyden (D),

Last Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 07/22/2021)

Official Document

https://www.congress.gov/bill/117th-congress/senate-bill/2446/all-info

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/117th-congress/senate-bill/2446/all-info
BillText	https://www.congress.gov/117/bills/s2446/BILLS-117s2446is.pdf
Bill	https://www.congress.gov/117/bills/s2446/BILLS-117s2446is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR4678	Women's Retirement Protection Act	Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Same As
HR5873	Improving Part-Time Workers Access to Retirement Act of 2021	Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
S3751	A bill to amend the Employee Retirement Income Security Act of 1964 and the Internal Revenue Code of 1986 to improve retirement plan coverage for part-time workers.	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.	Related

Bill > S2446

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (26)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary