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Code · BILL · 116th Congress · S. 975 (Introduced in Senate) — To amend the Employee Retirement Income Security Act of 1974 to provide for greater spousal protection under defined... · Sec. 7

Sec. 7. Grants to promote financial literacy for women

195 words·~1 min read·/bill/116/s/975/is/section-7

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The Secretary of Labor, acting through the Director of the Women's Bureau, shall award grants on a competitive basis to eligible entities to enable such entities to improve the financial literacy of women who are working age or in retirement, to increase the likelihood of the women realizing a secure and stable retirement. In this section, the term eligible entity means a community-based organization with proven experience and expertise in serving working-age or retired women.
An eligible entity that desires to receive a grant under this section shall submit an application to the Secretary of Labor at such time, in such manner, and accompanied by such information as such Secretary may require. The Secretary of Labor shall award grants under this section in amounts of not less than $250,000. An eligible entity that receives a grant under this section shall use the grant funds to develop and implement financial literacy education, and related activities including outreach, awareness building, and counseling to increase women's knowledge of retirement planning and consumer, economic, and personal financial concepts.
There is authorized to be appropriated to carry out this section $100,000,000 for fiscal year 2020 and each succeeding fiscal year.
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