I 

118TH CONGRESS 

1ST SESSION H. R. 5060 

To amend the Employee Retirement Income Security Act of 1974 to provide 

for greater spousal protection under defined contribution plans, and 

for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 27, 2023 

Ms. UNDERWOOD (for herself, Ms. SCHAKOWSKY, Mr. NORCROSS, and Ms. 

BONAMICI) introduced the following bill; which was referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of 

such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend the Employee Retirement Income Security Act 

of 1974 to provide for greater spousal protection under 

defined contribution plans, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Women’s Retirement 

5 Protection Act’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 


kjohnson on DSK79L0C42PROD with BILLS
2 

•HR 5060 IH

1 (1) Approximately 25 percent of non-retired 

2 adults have no defined benefit plan or retirement 

3 savings, according to 2021 data from the Board of 

4 Governors of the Federal Reserve System. 

5 (2) In 2021, approximately one-third of the pri6 vate sector workforce did not have access to a retire7 ment plan at the workplace, and only half of the 

8 workforce actually participated in a retirement plan. 

9 (3) Women’s retirement preparedness often lags 

10 significantly behind their male counterparts’, result11 ing in the median income for women aged 65 and 

12 older in 2022 being just 83 percent of the median 

13 income of men aged 65 and older, including income 

14 from social security, pension plans, investments, and 

15 earnings. 

16 (4) Women aged 80 and older had the highest 

17 poverty rate among older persons in all age groups, 

18 with 14.7 percent of women aged 80 and older living 

19 in poverty while 10.3 percent of men in the same 

20 age group live in poverty. 

21 (5) Women make up two-thirds of low-wage 

22 workers, even though they comprise less than half of 

23 all workers, and low-wage workers are less likely 

24 than other workers to participate in a retirement 

25 plan at work. 


kjohnson on DSK79L0C42PROD with BILLS
3 

•HR 5060 IH

1 (6) Because of the pay gap, women working 

2 full-time, year-round typically lose $398,160 over a 

3 40-year career thereby requiring the average woman 

4 to work almost a decade longer than her male coun5 terpart to make up that career wage gap. 

6 (7) Due to the lower lifetime wages stemming 

7 from unequal pay and caregiving duties, the average 

8 Social Security benefit in 2021 for a woman was 

9 $1,484 a month, while for men such average month10 ly benefit was $1,838. 

11 (8) While the SECURE 2.0 Act of 2022 (Pub12 lic Law 117–328) will go a long way to address this 

13 coverage gap, just 1 in 5 part-time workers who 

14 work a full year are eligible for a retirement plan, 

15 and women are almost twice as likely to work part16 time as men. 

17 (9) While traditional defined benefit retirement 

18 plans have spousal protections, defined contribution 

19 retirement plans, which have become increasingly 

20 common, currently provide no similar spousal protec21 tions. 

22 (10) The Thrift Savings Plan of the Federal 

23 Government, the largest defined contribution plan in 

24 the world with approximately 6,500,000 particiVerDate Sep 11 2014 01:48 Aug 16, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H5060.IH H5060

kjohnson on DSK79L0C42PROD with BILLS
4 

•HR 5060 IH

1 pants, requires its married participants to have their 

2 spouses consent for withdrawals and loans. 

3 (11) There were almost 700,000 divorces in the 

4 United States between 2020 and 2021. After the 

5 family home, retirement savings tends to be the larg6 est asset to be divided in a divorce. 

7 (12) While fees and expenses associated with 

8 retirement plans have been in decline, participants 

9 have seen direct charges for processing qualified do10 mestic relations orders increase significantly. 

11 SEC. 3. INCREASING SPOUSAL PROTECTION UNDER DE12 FINED CONTRIBUTION PLANS. 

13 (a) AMENDMENT OF EMPLOYEE RETIREMENT IN14 COME SECURITY ACT OF 1974.— 

15 (1) IN GENERAL.—Part 2 of subtitle B of title 

16 I of the Employee Retirement Income Security Act 

17 of 1974 (29 U.S.C. 1051 et seq.) is amended by in18 serting after section 205 the following new section: 

19 ‘‘SEC. 205A. ADDITIONAL SPOUSAL CONSENT REQUIRE20 MENTS. 

21 ‘‘(a) IN GENERAL.—Each individual account plan to 

22 which section 205 does not apply shall provide that, except 

23 as provided in subsections (c) and (d), no distribution may 

24 be made under the plan unless the spousal consent re25 quirements of subsection (e) are met. 


kjohnson on DSK79L0C42PROD with BILLS
5 

•HR 5060 IH

1 ‘‘(b) COORDINATION WITH SECTION 205.—Nothing 

2 in this section shall be construed to exempt an individual 

3 account plan from the requirements of paragraph (1)(B), 

4 (1)(C), or (2) of section 205(b) with respect to any partici5 pant. 

6 ‘‘(c) EXCEPTIONS FOR CERTAIN DISTRIBUTIONS.— 

7 Subsection (a) shall not apply to— 

8 ‘‘(1) any distribution that is— 

9 ‘‘(A) a minimum required distribution de10 scribed in section 4974(b) of the Internal Rev11 enue Code of 1986; 

12 ‘‘(B) permitted under section 203(e)(1) to 

13 be made without the consent of the participant; 

14 or 

15 ‘‘(C) in an amount that is less than 25 

16 percent of the account balance; 

17 ‘‘(2) any distribution in the form of a qualified 

18 joint and survivor annuity (as defined in section 

19 205(d)(1)), a qualified optional survivor annuity (as 

20 defined in section 205(d)(2)), a qualified preretire21 ment survivor annuity (as defined in section 205(e)), 

22 or a series of substantially equal periodic payments 

23 (not less frequently than annually) made for the 

24 joint lives (or life expectancies) of the participant 

25 and the participant’s spouse; or 


kjohnson on DSK79L0C42PROD with BILLS
6 

•HR 5060 IH

1 ‘‘(3) in the case of a participant who does not 

2 elect a form of benefit described in paragraph (2) 

3 under the plan or who is participating in a plan that 

4 does not provide such a form of benefit, any dis5 tribution of the participant’s entire nonforfeitable 

6 accrued benefit if 50 percent of such accrued benefit 

7 is transferred to an individual retirement plan (as 

8 defined in section 7701(a)(37) of the Internal Rev9 enue Code of 1986) of the spouse of the participant. 

10 A transfer described in paragraph (3) to an individual re11 tirement plan shall be treated in the same manner as a 

12 transfer under section 408(d)(6) of the Internal Revenue 

13 Code of 1986. 

14 ‘‘(d) EXCEPTIONS FOR CERTAIN ROLLOVER CON15 TRIBUTIONS.—Subsection (a) shall not apply to any dis16 tribution, involving a participant who has a spouse, that 

17 is an eligible rollover distribution (as defined in section 

18 402(f)(2)(A) of the Internal Revenue Code of 1986) made 

19 in the form of a direct trustee-to-trustee transfer within 

20 the meaning of section 401(a)(31) of the Internal Revenue 

21 Code of 1986— 

22 ‘‘(1) to a plan to which this section or section 

23 205 applies; or 


kjohnson on DSK79L0C42PROD with BILLS
7 

•HR 5060 IH

1 ‘‘(2) to an individual retirement plan (as de2 fined in section 7701(a)(37) of the Internal Revenue 

3 Code of 1986) if— 

4 ‘‘(A) the beneficiary of such plan is the 

5 spouse of the participant, or the spousal con6 sent requirements of subsection (e) are met 

7 with respect to any designation of 1 or more 

8 other beneficiaries; and 

9 ‘‘(B) under the terms of the individual re10 tirement plan, the beneficiary of such plan 

11 (whether the spouse or other beneficiary des12 ignated under paragraph (1)) may not be 

13 changed unless— 

14 ‘‘(i) the spousal consent requirements 

15 of subsection (e) are met with respect to 

16 any such change, or 

17 ‘‘(ii) the spousal consent under sub18 paragraph (A) to the designation of a ben19 eficiary other than the spouse expressly 

20 permits such designation to be changed 

21 without the further consent of the spouse. 

22 ‘‘(e) SPOUSAL CONSENT REQUIREMENTS.— 

23 ‘‘(1) IN GENERAL.—For purposes of this sec24 tion, except as provided in paragraph (2), the spous25 al consent requirements of this subsection are met 


kjohnson on DSK79L0C42PROD with BILLS
8 

•HR 5060 IH

1 with respect to any distribution or any designation 

2 or change of beneficiary if— 

3 ‘‘(A) the plan provides to each participant, 

4 within a reasonable period of time before such 

5 distribution or designation or change of bene6 ficiary is made and consistent with such regula7 tions as the Secretary of the Treasury may pre8 scribe, a written explanation of the rights of the 

9 participant and the participant’s spouse under 

10 this section; 

11 ‘‘(B) the spouse of the participant consents 

12 in writing to the distribution or designation or 

13 change of beneficiary; 

14 ‘‘(C) in the case of a distribution, the writ15 ten consent under subparagraph (B) is made 

16 during the consent period; and 

17 ‘‘(D) the written consent under subpara18 graph (B)— 

19 ‘‘(i) acknowledges the effect of such 

20 distribution or designation or change of 

21 beneficiary; and 

22 ‘‘(ii) is witnessed by a plan represent23 ative or a notary public. 

24 ‘‘(2) EXCEPTIONS UNDER SECTION 205(C)(2)(B)

25 TO APPLY.—The requirements of paragraph (1) 


kjohnson on DSK79L0C42PROD with BILLS
9 

•HR 5060 IH

1 (other than subparagraph (A) thereof) shall not 

2 apply with respect to any distribution or designation 

3 or change of beneficiary if a participant establishes 

4 to the satisfaction of the plan administrator that— 

5 ‘‘(A) there is no spouse; 

6 ‘‘(B) the participant and the participant’s 

7 spouse have not been married for at least 1 

8 year as of the date of the distribution or des9 ignation or change of beneficiary; or 

10 ‘‘(C) such consent cannot be obtained be11 cause— 

12 ‘‘(i) the spouse cannot be located; or 

13 ‘‘(ii) of such other circumstances as 

14 the Secretary of the Treasury, in consulta15 tion with the Secretary of Labor, may by 

16 regulations prescribe. 

17 ‘‘(3) CONSENT LIMITED TO SPOUSE AND

18 EVENT.—Any written consent by a spouse under 

19 paragraph (1), or the establishment by a participant 

20 that an exception under paragraph (2) applies with 

21 respect to a spouse, shall be effective only with re22 spect to that spouse and to the distribution or des23 ignation or change of beneficiary to which it relates. 


kjohnson on DSK79L0C42PROD with BILLS
10 

•HR 5060 IH

1 ‘‘(4) CONSENT PERIOD.—For purposes of this 

2 subsection, the term ‘consent period’ means, with re3 spect to any distribution— 

4 ‘‘(A) the 90-day period immediately pre5 ceding the date of such distribution; or 

6 ‘‘(B) such other period as the Secretary of 

7 the Treasury may provide. 

8 ‘‘(f) DISCHARGE OF PLAN FROM LIABILITY.—Rules 

9 similar to the rules of section 205(c)(6) shall apply for 

10 purposes of this section.’’. 

11 (2) CLERICAL AMENDMENT.—The table of sec12 tions of part 2 of subtitle B of title I of the Em13 ployee Retirement Income Security Act of 1974 is 

14 amended by inserting after the item relating to sec15 tion 205 the following new item: 

‘‘Sec. 205A. Additional spousal consent requirements.’’. 

16 (3) RIGHT OF ACTION.—Section 502(a) of the 

17 Employee Retirement Income Security Act of 1974 

18 (29 U.S.C. 1132) is amended— 

19 (A) by striking ‘‘or’’ at the end of para20 graph (10); 

21 (B) by striking the period at the end of 

22 paragraph (11) and inserting ‘‘; or’’; and 

23 (C) by adding at the end the following new 

24 paragraph: 


kjohnson on DSK79L0C42PROD with BILLS
11 

•HR 5060 IH

1 ‘‘(12) by an individual for appropriate relief in 

2 the case of a violation of the individual’s rights 

3 under section 205A.’’. 

4 (4) PARALLEL AMENDMENT TO SECTION 205.— 

5 Section 205(c)(2)(B) of the Employee Retirement 

6 Income Security Act of 1974 (29 U.S.C. 

7 1055(c)(2)(B)) is amended by inserting ‘‘, because 

8 due to exceptional circumstances requiring the par9 ticipant to seek the spouse’s consent would be inap10 propriate’’ after ‘‘located’’. 

11 (b) CONFORMING AMENDMENT TO INTERNAL REV12 ENUE CODE OF 1986.—Section 401(a) of the Internal 

13 Revenue Code of 1986 is amended by inserting after para14 graph (17) the following new paragraph: 

15 ‘‘(18) ADDITIONAL SPOUSAL CONSENT RE16 QUIREMENTS.— 

17 ‘‘(A) IN GENERAL.—In the case of a de18 fined contribution plan to which paragraph (11) 

19 does not apply, except as provided in sub20 sections (c) and (d), a trust forming part of 

21 such plan shall not constitute a qualified trust 

22 under this section unless no distribution may be 

23 made under the plan unless the spousal consent 

24 requirements of subparagraph (E) are met. 


kjohnson on DSK79L0C42PROD with BILLS
12 

•HR 5060 IH

1 ‘‘(B) COORDINATION WITH PARAGRAPH

2 (11).—Nothing in this paragraph shall be con3 strued to exempt a defined contribution plan 

4 from the requirements of subparagraph (B)(ii), 

5 (B)(iii), or (C) of paragraph (11) with respect 

6 to any participant. 

7 ‘‘(C) EXCEPTIONS FOR CERTAIN DISTRIBU8 TIONS.—Subparagraph (A) shall not apply to— 

9 ‘‘(i) any distribution that is— 

10 ‘‘(I) a minimum required dis11 tribution described in section 4974(b), 

12 ‘‘(II) permitted under section 

13 411(a)(11) to be made without the 

14 consent of the participant, or 

15 ‘‘(III) in an amount that is less 

16 than 25 percent of the account bal17 ance, 

18 ‘‘(ii) any distribution in the form of a 

19 qualified joint and survivor annuity (as de20 fined in section 417(b)), a qualified op21 tional survivor annuity (as defined in sec22 tion 417(g)), a qualified preretirement sur23 vivor annuity (as defined in section 

24 417(c)), or a series of substantially equal 

25 periodic payments (not less frequently than 


kjohnson on DSK79L0C42PROD with BILLS
13 

•HR 5060 IH

1 annually) made for the joint lives (or life 

2 expectancies) of the participant and the 

3 participant’s spouse, or 

4 ‘‘(iii) in the case of a participant who 

5 does not elect a form of benefit described 

6 in clause (ii) under the plan or who is par7 ticipating in a plan that does not provide 

8 such a form of benefit, any distribution of 

9 the participant’s entire nonforfeitable ac10 crued benefit if 50 percent of such accrued 

11 benefit is transferred to an individual re12 tirement plan of the spouse of the partici13 pant. 

14 A transfer described in clause (iii) to an indi15 vidual retirement plan shall be treated in the 

16 same manner as a transfer under section 

17 408(d)(6). 

18 ‘‘(D) EXCEPTIONS FOR CERTAIN ROLL19 OVER CONTRIBUTIONS.—Subparagraph (A) 

20 shall not apply to any distribution, involving a 

21 participant who has a spouse, that is an eligible 

22 rollover distribution (as defined in section 

23 402(f)(2)(A)) made in the form of a direct 

24 trustee-to-trustee transfer within the meaning 

25 of paragraph (31)— 


kjohnson on DSK79L0C42PROD with BILLS
14 

•HR 5060 IH

1 ‘‘(i) to a plan to which this paragraph 

2 or paragraph (11) applies; or 

3 ‘‘(ii) to an individual retirement plan 

4 if— 

5 ‘‘(I) the beneficiary of such plan 

6 is the spouse of the participant, or the 

7 spousal consent requirements of sub8 paragraph (E) are met with respect to 

9 any designation of 1 or more other 

10 beneficiaries; and 

11 ‘‘(II) under the terms of the indi12 vidual retirement plan, the beneficiary 

13 of such plan (whether the spouse or 

14 other beneficiary designated under 

15 clause (i)) may not be changed un16 less— 

17 ‘‘(aa) the spousal consent 

18 requirements of subparagraph 

19 (E) are met with respect to any 

20 such change, or 

21 ‘‘(bb) the spousal consent 

22 under subclause (I) to the des23 ignation of a beneficiary other 

24 than the spouse expressly permits 

25 such designation to be changed 


kjohnson on DSK79L0C42PROD with BILLS
15 

•HR 5060 IH

1 without the further consent of 

2 the spouse. 

3 ‘‘(E) SPOUSAL CONSENT REQUIRE4 MENTS.— 

5 ‘‘(i) IN GENERAL.—For purposes of 

6 this paragraph, except as provided in 

7 clause (ii), the spousal consent require8 ments of this subparagraph are met with 

9 respect to any distribution or any designa10 tion or change of beneficiary if— 

11 ‘‘(I) the plan provides to each 

12 participant, within a reasonable period 

13 of time before such distribution or 

14 designation or change of beneficiary is 

15 made and consistent with such regula16 tions as the Secretary may prescribe, 

17 a written explanation of the rights of 

18 the participant and the participant’s 

19 spouse under this paragraph, 

20 ‘‘(II) the spouse of the partici21 pant consents in writing to the dis22 tribution or designation or change of 

23 beneficiary, 

24 ‘‘(III) in the case of a distribu25 tion, the written consent under subVerDate Sep 11 2014 01:48 Aug 16, 2023 Jkt 039200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\H5060.IH H5060

kjohnson on DSK79L0C42PROD with BILLS
16 

•HR 5060 IH

1 clause (II) is made during the consent 

2 period, and 

3 ‘‘(IV) the written consent under 

4 subclause (ii)— 

5 ‘‘(aa) acknowledges the ef6 fect of such distribution or des7 ignation or change of beneficiary, 

8 and 

9 ‘‘(bb) is witnessed by a plan 

10 representative or a notary public. 

11 ‘‘(ii) EXCEPTIONS UNDER SECTION

12 417(A)(2)(B) TO APPLY.—The requirements 

13 of clause (i) (other than subclause (I) 

14 thereof) shall not apply with respect to any 

15 distribution or designation or change of 

16 beneficiary if a participant establishes to 

17 the satisfaction of the plan administrator 

18 that— 

19 ‘‘(I) there is no spouse, 

20 ‘‘(II) the participant and the par21 ticipant’s spouse have not been mar22 ried for at least 1 year as of the date 

23 of the distribution or designation or 

24 change of beneficiary, or 


kjohnson on DSK79L0C42PROD with BILLS
17 

•HR 5060 IH

1 ‘‘(III) such consent cannot be ob2 tained because— 

3 ‘‘(aa) the spouse cannot be 

4 located, or 

5 ‘‘(bb) of such other cir6 cumstances as the Secretary, in 

7 consultation with the Secretary 

8 of Labor, may by regulations pre9 scribe. 

10 ‘‘(iii) CONSENT LIMITED TO SPOUSE

11 AND EVENT.—Any written consent by a 

12 spouse under clause (i), or the establish13 ment by a participant that an exception 

14 under clause (ii) applies with respect to a 

15 spouse, shall be effective only with respect 

16 to that spouse and to the distribution or 

17 designation or change of beneficiary to 

18 which it relates. 

19 ‘‘(iv) CONSENT PERIOD.—For pur20 poses of this subparagraph, the term ‘con21 sent period’ means, with respect to any 

22 distribution— 

23 ‘‘(I) the 90-day period imme24 diately preceding the date of such dis25 tribution, or 


kjohnson on DSK79L0C42PROD with BILLS
18 

•HR 5060 IH

1 ‘‘(II) such other period as the 

2 Secretary may provide.’’. 

3 SEC. 4. EFFECTIVE DATES. 

4 (a) INCREASING SPOUSAL PROTECTION UNDER DE5 FINED CONTRIBUTION PLANS.—Except as provided in 

6 subsection (b), the amendments made by section 3 shall 

7 apply to distributions and rollover contributions made in 

8 plan years beginning after the date that is 1 year after 

9 the date of the enactment of this Act. 

10 (b) PROVISIONS RELATING TO PLAN AMEND11 MENTS.— 

12 (1) IN GENERAL.—If this paragraph applies to 

13 any plan or contract amendment, such plan or con14 tract shall be treated as being operated in accord15 ance with the terms of the plan during the period 

16 described in paragraph (2)(C). 

17 (2) AMENDMENTS TO WHICH PARAGRAPH (1)

18 APPLIES.— 

19 (A) IN GENERAL.—Paragraph (1) shall 

20 apply to any amendment to any plan or annuity 

21 contract which is made— 

22 (i) pursuant to the amendments made 

23 by section 3 or pursuant to any regulation 

24 issued under either such section; and 


kjohnson on DSK79L0C42PROD with BILLS
19 

•HR 5060 IH

1 (ii) on or before the last day of the 

2 first plan year beginning on or after the 

3 date that is 3 years after the applicable 

4 day described in subsection (c)(1)(B). 

5 In the case of a governmental plan (as defined 

6 in section 414(d) of the Internal Revenue Code 

7 of 1986), this subparagraph shall be applied by 

8 substituting ‘‘5 years’’ for ‘‘3 years’’ in clause 

9 (ii). 

10 (B) CONDITIONS.—Subparagraph (A) shall 

11 not apply to any amendment unless— 

12 (i) the plan or contract is operated as 

13 if such plan or contract amendment were 

14 in effect for the period described in sub15 paragraph (C); and 

16 (ii) such plan or contract amendment 

17 applies retroactively for such period. 

18 (C) PERIOD DESCRIBED.—The period de19 scribed in this subparagraph is the period— 

20 (i) beginning on the effective date 

21 specified by the plan; and 

22 (ii) ending on the date described in 

23 subparagraph (A)(ii) (or, if earlier, the 

24 date the plan or contract amendment is 

25 adopted). 


kjohnson on DSK79L0C42PROD with BILLS
20 

•HR 5060 IH

1 SEC. 5. ACCESS TO INDEPENDENT CONSUMER INFORMA2 TION AND UNDERSTANDING. 

3 (a) DEFINITIONS.—In this section— 

4 (1) the term ‘‘consumer’’ means any person 

5 who purchases or acquires any goods, products, serv6 ices, or credit related to the retirement or later life 

7 economic security of the consumer; and 

8 (2) the term ‘‘financial product or service pro9 vider’’ means any person who engages in the busi10 ness of providing any retirement financial product or 

11 service to any consumer. 

12 (b) REQUIRED LINK TO CONSUMER AWARENESS IN13 FORMATION.—In any offer for the sale, exchange, or other 

14 transfer of a retirement financial product or service to a 

15 consumer carried out by a financial product or service pro16 vider, such provider shall provide, in a manner consistent 

17 with subsection (c), an easily accessible link to the website 

18 of the Bureau of Consumer Financial Protection (referred 

19 to in this section as the ‘‘CFPB’’) at which the consumer 

20 may access information, literature, guides, programs, 

21 tools, strategies, or any other resource produced by the 

22 CFPB or other Federal agency relating to retirement 

23 planning or later life economic security. 

24 (c) DETERMINATION.—In order to ensure that the re25 quirement under subsection (b) is effectively carried out, 

26 the Financial Literacy and Education Commission shall 


kjohnson on DSK79L0C42PROD with BILLS
21 

•HR 5060 IH

1 determine and publish on its website the appropriate link 

2 to the CFPB’s website for access to the CFPB’s and other 

3 Federal agencies’ consumer education materials, the pre4 ferred format of such link, and any accompanying descrip5 tion of the CFPB and the consumer education materials 

6 associated with such link. 

7 SEC. 6. GRANTS TO PROMOTE FINANCIAL LITERACY FOR 

8 WOMEN. 

9 (a) AUTHORIZATION OF GRANT AWARDS.—The Sec10 retary of Labor, acting through the Director of the Wom11 en’s Bureau, shall award grants on a competitive basis to 

12 eligible entities to enable such entities to improve the fi13 nancial literacy of women who are working age or in re14 tirement, to increase the likelihood of the women realizing 

15 a secure and stable retirement. 

16 (b) DEFINITION OF ELIGIBLE ENTITY.—In this sec17 tion, the term ‘‘eligible entity’’ means a community-based 

18 organization with proven experience and expertise in serv19 ing working-age or retired women. 

20 (c) APPLICATION.—An eligible entity that desires to 

21 receive a grant under this section shall submit an applica22 tion to the Secretary of Labor at such time, in such man23 ner, and accompanied by such information as such Sec24 retary may require. 


kjohnson on DSK79L0C42PROD with BILLS
22 

•HR 5060 IH

1 (d) MINIMUM GRANT AMOUNT.—The Secretary of 

2 Labor shall award grants under this section in amounts 

3 of not less than $250,000. 

4 (e) USE OF FUNDS.—An eligible entity that receives 

5 a grant under this section shall use the grant funds to 

6 develop and implement financial literacy education, and 

7 related activities including outreach, awareness building, 

8 and counseling to increase women’s knowledge of retire9 ment planning and consumer, economic, and personal fi10 nancial concepts. 

11 (f) AUTHORIZATION OF APPROPRIATIONS.—There is 

12 authorized to be appropriated to carry out this section 

13 $100,000,000 for fiscal year 2024 and each succeeding 

14 fiscal year. 

15 SEC. 7. GRANTS TO ASSIST LOW-INCOME WOMEN AND SUR16 VIVORS OF DOMESTIC VIOLENCE IN OBTAIN17 ING QUALIFIED DOMESTIC RELATIONS OR18 DERS. 

19 (a) AUTHORIZATION OF GRANT AWARDS.—The Sec20 retary of Labor, acting through the Director of the Wom21 en’s Bureau and in conjunction with the Assistant Sec22 retary of the Employee Benefits Security Administration, 

23 shall award grants, on a competitive basis, to eligible enti24 ties to enable such entities to assist low-income women 

25 and survivors of domestic violence in obtaining qualified 


kjohnson on DSK79L0C42PROD with BILLS
23 

•HR 5060 IH

1 domestic relations orders and ensuring that those women 

2 actually obtain the benefits to which they are entitled 

3 through those orders. 

4 (b) DEFINITION OF ELIGIBLE ENTITY.—In this sec5 tion, the term ‘‘eligible entity’’ means a community-based 

6 organization with proven experience and expertise in serv7 ing women and the financial and retirement needs of 

8 women. 

9 (c) APPLICATION.—An eligible entity that desires to 

10 receive a grant under this section shall submit an applica11 tion to the Secretary of Labor at such time, in such man12 ner, and accompanied by such information as the Sec13 retary of Labor may require. 

14 (d) MINIMUM GRANT AMOUNT.—The Secretary of 

15 Labor shall award grants under this section in amounts 

16 of not less than $250,000. 

17 (e) USE OF FUNDS.—An eligible entity that receives 

18 a grant under this section shall use the grant funds to 

19 develop programs to offer help to low-income women or 

20 survivors of domestic violence who need assistance in pre21 paring, obtaining, and effectuating a qualified domestic re22 lations order. 

23 (f) AUTHORIZATION OF APPROPRIATIONS.—There is 

24 authorized to be appropriated to carry out this section 


kjohnson on DSK79L0C42PROD with BILLS
24 

•HR 5060 IH

1 $100,000,000 for fiscal year 2024 and each succeeding 

2 fiscal year. 

Æ 


kjohnson on DSK79L0C42PROD with BILLS