Democratic lawmakers have reintroduced a bill aimed at addressing the retirement gap and bolstering women's financial security.
The Women's Retirement Protection Act of 2025, introduced March 12 by Rep. Lauren Underwood, D-Ill., and Sen. Tammy Baldwin, D-Wis., looks to address some of the challenges that disproportionately affect women as they plan for their financial future.
Specifically, the bill, versions of which have been introduced in the previous three congressional sessions, would expand existing spousal protections for defined contributions plans to prevent one spouse from making decisions that might undermine a couple's retirement resources without the other's knowledge and consent.
The bill would also increase financial literacy by providing grants for community-based organizations to help provide information and financial tools to women who are of working or retirement age.
And lastly, the bill would support women with low incomes and survivors of domestic abuse seeking retirement benefits by providing grants to assist these women in obtaining qualified domestic relations orders, the legal instruments that allow for the division of retirement benefits.
“As women strive for economic equality in this country, we must make sure they can retire with dignity,” Underwood said in a statement. “That means protecting their financial future and preventing a spouse from draining shared retirement savings without consent. Sen. Baldwin and I introduced the Women’s Retirement Protection Act to address economic inequalities and help women achieve financial security and independence.”
