The Women's Retirement Protection Act seeks to address women's significantly lower retirement savings and income compared to men. The bill amends retirement plan rules to require spousal consent for most withdrawals and major account changes in defined contribution plans (like 401(k)s), similar to protections that already exist in traditional pension plans. This applies broadly to retirement account distributions and beneficiary designations, with limited exceptions for small withdrawals, required distributions, and certain annuities. The bill also authorizes $100 million annually for grants to community organizations to provide financial literacy education for women and $100 million annually for grants to help low-income women and domestic violence survivors navigate the legal process of securing retirement benefits through divorce settlements. The spousal consent requirements take effect one year after the bill is enacted, with a three-year grace period for plans to update their terms.