U.S. Senator Mazie K. Hirono, along with Senators Tammy Baldwin, Patty Murray, and nine other colleagues, has reintroduced the Women's Retirement Protection Act of 2025 (WRPA). This legislation aims to address the systemic challenges women face in securing a stable retirement by enhancing protections and providing tools for better financial preparation.
Senator Hirono stated, "Everyone deserves to have peace of mind that they will be financially prepared for retirement, yet compared to their male counterparts, women disproportionately face structural challenges that prevent them from being able to save adequately." She emphasized that the legislation would help close the retirement gap by strengthening savings protections, supporting financial literacy, and offering grants for domestic relations orders.
The median retirement income for women in 2023 was only 84 percent of men's income. Due to financial obstacles such as unequal pay and career breaks for caregiving duties, women aged 65 and older are more likely than men to live in poverty. WRPA seeks to mitigate these issues by implementing several measures:
- Strengthening consumer protections: The act would require spousal consent for most distributions from a 401(k) plan.
- Increasing financial literacy: Grants would be provided to community-based organizations to enhance women's financial education.
- Assisting with domestic relations orders: The act would offer grants to help low-income women and survivors of domestic violence obtain benefits through qualified domestic relations orders.
In addition to Senators Hirono, Baldwin, and Murray, the bill is cosponsored by Senators Maria Cantwell, Richard Blumenthal, Chris Van Hollen, Tim Kaine, Amy Klobuchar, Jeff Merkley, Bernie Sanders, Elizabeth Warren, and Ron Wyden. U.S. Representative Lauren Underwood introduced this legislation in the House. It has received support from organizations like the National Women’s Law Center, Pension Rights Center, and AARP.
The full text of the legislation is available online.