PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Sep 27, 2006
Women's Retirement Security Act of 2006 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) increase the tax credit for retirement savings contributions (saver's credit) for certain low-income taxpayers; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; (6) allow a rollover of military death benefits to IRAs and other benefit plans; (7) allow a limited tax exclusion for certain lifetime annuity payments; (8) allow certain small employers a tax credit for contributions to employee pension plans; (9) allow self-employed individuals to deduct pension plan contributions from their self-employment income; and (10) allow employees a tax exclusion for qualified retirement planning services.
Allows divorced spouses and widows and widowers to remarry after attaining age 60 without losing retirement benefits under the Railroad Retirement Act.
Authorizes the Secretary of the Treasury to make grants to qualified low-income taxpayer clinics to provide retirement savings counseling to low-income taxpayers.
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Requires the Commissioner of Social Security to prepare a financial reference handbook and a retirement readiness checklist for distribution to social security recipients.
People & committees
Sen. Smith, Gordon H. [R-OR] · R–OR
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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