Lawmakers last week reintroduced legislation that would create spousal protections for defined contribution (DC) plans.
House Rep. Lauren Underwood (D-Ill.), along with Senators Tammy Baldwin (D-WI) and Patty Murray (D-WA), and other cosponsors, reintroduced the Women’s Retirement Protection Act (WPRA) of 2025 in their chambers on March 11 and 12.
Under the legislation, spousal consent from both partners would be required in order to take out a 401(k) loan or distribution. Under current law, one spouse could withdraw from the plan without the other spouse’s knowledge or consent.
“As women strive for economic equality in this country, we must make sure they can retire with dignity,” said Representative Underwood. “That means protecting their financial future and preventing a spouse from draining shared retirement savings without consent. Senator Baldwin and I introduced the Women’s Retirement Protection Act to address economic inequalities and help women achieve financial security and independence.”
According to text of the legislation, the WRPA would provide grants for community-based organizations to help provide information and financial tools to working- and retirement-age-women. These grants would also go to organizations who assist low-income women and survivors of domestic violence in obtaining benefits through qualified domestic relations orders.
“Women face greater barriers when saving for retirement—from unequal pay to more time out of the workforce to care for their families—and as a result, women are more likely to live in poverty as they get older. I want to ensure that every American can have a secure and restful retirement, which is why I’m proud to be reintroducing the Women’s Retirement Protection Act with my friend Senator Baldwin, to extend important protections for women’s retirement savings and strengthen women’s financial security,” said Sen. Murray.
The WPRAis co-sponsored by Maria Cantwell (D-WA), Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Amy Klobuchar (D-MN), Bernie Sanders (I-VT), Ron Wyden (D-OR), Chris Van Hollen (D-MD), Tim Kaine (D-VA), Elizabeth Warren (D-MA), and Ed Merkley (D-OR). The legislation is supported by the National Women’s Law Center, Pension Rights Center, and AARP.
“We’ve long advocated for this critically important legislation that addresses many of the systemic failures, particularly for women, in the private retirement system,” said Karen Friedman, executive director of the Pension Rights Center. “Retirement income security should be a bi-partisan issue, and we look forward to getting this bill over the finish line.”
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