Women's Retirement Protection Act

The Women's Retirement Protection Act, also known as Bill 118 s 2627, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address the unique challenges that women face when it comes to retirement planning and financial security.

One of the key provisions of the Women's Retirement Protection Act is to increase access to retirement savings options for women. This includes expanding eligibility for retirement plans, such as 401(k)s and IRAs, to part-time and temporary workers who are disproportionately women. The bill also aims to make it easier for women to save for retirement by providing tax incentives for employers to offer retirement plans and increasing the contribution limits for retirement accounts.

Additionally, the Women's Retirement Protection Act seeks to address the gender pay gap by requiring employers to report pay data broken down by gender and race. This information will help identify and address disparities in pay that can impact women's ability to save for retirement. Another important aspect of the bill is its focus on improving financial literacy and education for women. The Women's Retirement Protection Act includes provisions to increase access to financial education programs and resources, particularly for low-income women and women of color who may face additional barriers to saving for retirement. Overall, the Women's Retirement Protection Act aims to empower women to take control of their financial futures and ensure that they have the resources they need to retire with dignity and security. By addressing the unique challenges that women face in retirement planning, this bill has the potential to make a significant impact on the financial well-being of women across the country.