The Women's Retirement Protection Act strengthens protections for spouses in retirement accounts by requiring written, witnessed spousal consent before married participants can make major changes to 401(k)s and similar defined contribution plans—such as withdrawals, beneficiary designations, and rollovers—bringing these accounts in line with protections already required for traditional pensions. The bill exempts certain distributions like required minimum withdrawals and small payouts under 25 percent of account balance. Additionally, it establishes two annual $100 million grant programs to support women's financial security: one directs funding to community organizations for financial literacy education, and the other helps low-income women and domestic violence survivors obtain legal orders to access retirement benefits they may be entitled to through divorce or separation. The legislation also requires retirement financial product providers to connect consumers with Consumer Financial Protection Bureau educational resources.
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