S. 988, titled the "Women's Retirement Protection Act," seeks to amend the Employee Retirement Income Security Act of 1974 to ensure greater spousal protection in defined contribution retirement plans. The bill introduces regulations that require spousal consent for most...
Simple Explanation
The Women's Retirement Protection Act is a plan to help married women be more secure with their retirement money by making sure they get their spouse's permission before taking out money from savings. It also wants to give women more knowledge about money and help those who might need it, like low-income women or those who've faced tough times, to make sure they're taken care of when they're older.