Murray Statement on GAO Report on Spousal Consent Requirements for Retirement Plans

New GAO report requested by Senator Murray finds adding spousal consent requirements could increase financial safeguards for women

Washington, D.C. - Today, U.S. Senator Patty Murray (D-WA)-a former chair and senior member of the Senate Health, Education, Labor and Pensions (HELP) Committee-released a report from the Government Accountability Office (GAO) evaluating the need for stronger spousal protections in defined contribution retirement plans. The report from GAO is the result of a direct request from Senator Murray during her time as Chair of the HELP Committee.

"This GAO report highlights that when a spouse isn't transparent about withdrawing funds from a retirement account, the consequences can be severe and it is often women who are affected," said Senator Murray. "Adding spousal consent requirements to retirement plans could increase financial protections for women, who already face greater barriers when saving for retirement. I want to ensure that every American can have a secure and restful retirement, and I'm never going to stop fighting for safeguards that protect the financial security of all Americans."

"Spousal consent requirements are a foundational protection within our retirement system, particularly for women, who remain more vulnerable to financial disruption in both retirement and divorce. Strengthening these standards ensures greater transparency, reinforces shared decision-making, and helps preserve long-term financial security for families," said Kristen Shearin, Director of the Institute for Divorce Financial Analysts. "Strong spousal consent protections are essential to safeguarding women's financial security in both retirement and divorce."

For many working families, their 401(k) plan is often their largest asset aside from their home. Under current law, one spouse could take a withdrawal from their account without the other spouse's knowledge or consent. This could have a devastating effect on the unknowing spouse and family members, especially if they are less familiar with the household's finances. The report found that women are disproportionately affected when funds are withdrawn without spousal consent. The report highlights that, for several reasons-including women's greater likelihood of working in part-time jobs without retirement benefits and taking career breaks to care for family members-women may rely more heavily on their spouse's retirement savings. As a result, they are particularly vulnerable to financial hardship if those funds are withdrawn without their consent.

One spouse interviewed for the report said:"[My husband] had taken the whole amount out of the 401(k) account without informing me or telling me anything. I only found out because he was overspending on…things he usually did not spend money on."

The GAO report also examined the potential administrative burden of adding spousal consent to retirement plans. Officials from the Thrift Savings Plan (TSP)-the nation's largest defined contribution plan with $963 billion in assets and 7.2 million plan participants-reported that obtaining spousal consent typically adds about one additional day to processing times, and in some cases as little two hours. This suggests that spousal consent is feasible to implement widely without excessive administrative burden.

Senator Murray has consistently fought to address the systemic challenges women face to a secure retirement. In 2025, Senator Murray and Senator Tammy Baldwin (D-WI) led a group of their colleagues in re-introducing the Women's Retirement Protection Act of 2025 (WRPA). This legislation strengthens retirement protections, including adding spousal consent requirements, and provides enhanced tools to ensure women can better prepare for retirement.

Read the full report here.

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