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Spousal Consent Required for Defined Contribution Plan Distributions

This Act mandates written spousal consent for most distributions and beneficiary changes in defined contribution retirement plans, such as 401(k)s. The legislation aims to enhance financial security for spouses, particularly women. It also authorizes funding for financial literacy programs and legal assistance for obtaining qualified domestic relations orders (QDROs).
Key points
Defined contribution plans generally require written spousal consent for distributions and changes to beneficiaries.
A distribution of the entire accrued benefit is permitted without standard spousal consent if 50% of the benefit is transferred to the spouse's individual retirement plan (IRA).
The law authorizes grants to improve financial literacy for women and assist low-income individuals in securing retirement asset division orders.
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Expired
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Additional Information
Print number: 118_S_2627
Sponsor: Sen. Baldwin, Tammy [D-WI]
Process start date: 2023-07-27
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Summarized by: gemini-3-pro-preview
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_S_2627.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Defined contribution plans generally require written spousal consent for distributions and changes to beneficiaries.
  • A distribution of the entire accrued benefit is permitted without standard spousal consent if 50% of the benefit is transferred to the spouse's individual retirement plan (IRA).
  • The law authorizes grants to improve financial literacy for women and assist low-income individuals in securing retirement asset division orders.
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 Sen. Baldwin, Tammy [D-WI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Benefits Family Labor