US HR4678

Bill

US HR4678

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 aims to provide greater spousal protection and improve coverage for part-time workers under defined contribution retirement plans. Key provisions include: - Requiring defined contribution plans to obtain spousal consent before making certain distributions or changes to beneficiaries, with some exceptions. - Allowing part-time employees who work at least 500 hours per year to participate in retirement plans after 24 months, and counting each 12-month period with 500 hours as a year of service for vesting purposes. - Providing grants to promote financial literacy for women and assist low-income women and survivors of domestic violence in obtaining qualified domestic relations orders to obtain retirement benefits. - Requiring providers of retirement financial products or services to link to consumer education resources from the Bureau of Consumer Financial Protection. The bill is intended to help address the retirement savings gap between women and men, and ensure part-time and low-income workers have better access to workplace retirement plans.

Committee Categories

Education

Sponsors (5)

Lauren Underwood (D)*, Suzanne Bonamici (D), Ann Kuster (D), Donald Norcross (D), Jan Schakowsky (D),

Last Action

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. (on 07/22/2021)

Official Document

https://www.congress.gov/bill/117th-congress/house-bill/4678/all-info

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/117th-congress/house-bill/4678/all-info
BillText	https://www.congress.gov/117/bills/hr4678/BILLS-117hr4678ih.pdf
Bill	https://www.congress.gov/117/bills/hr4678/BILLS-117hr4678ih.pdf.pdf

Bill	Bill Name	Last Action	Type
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
S2446	Women's Retirement Protection Act	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.	Same As
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 > HR4678

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary