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Women's Retirement Protection: Spousal Consent for Retirement Plan Withdrawals

This act aims to enhance financial protection for women in retirement, especially in cases of divorce. It introduces a requirement for spousal consent for withdrawals from individual retirement plans, preventing loss of savings. Additionally, it provides support in obtaining qualified domestic relations orders and financial literacy education.
Key points
Requires written spousal consent for withdrawals or beneficiary changes in individual retirement plans, increasing financial security for both spouses.
Facilitates the division of retirement savings in divorce by providing support for low-income women and domestic violence survivors in obtaining Qualified Domestic Relations Orders (QDROs).
Authorizes grants for financial literacy programs specifically for women, enhancing their knowledge of retirement planning and personal finance.
Ensures easy access to independent consumer information on retirement planning through links to government websites.
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Expired
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Additional Information
Print number: 118_HR_5060
Sponsor: Rep. Underwood, Lauren [D-IL-14]
Process start date: 2023-07-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Women's Retirement Protection Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5060.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Requires written spousal consent for withdrawals or beneficiary changes in individual retirement plans, increasing financial security for both spouses.
  • Facilitates the division of retirement savings in divorce by providing support for low-income women and domestic violence survivors in obtaining Qualified Domestic Relations Orders (QDROs).
  • Authorizes grants for financial literacy programs specifically for women, enhancing their knowledge of retirement planning and personal finance.
  • Ensures easy access to independent consumer information on retirement planning through links to government websites.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Underwood, Lauren [D-IL-14].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Family Benefits Labor