WASHINGTON â€” The Federal Pension Protection Act passed by Congress and signed into law today by President George W. Bush contains two key provisions that will extend important financial protections to same-sex couples and other Americans who leave their retirement savings to non-spouse beneficiaries. The bipartisan provisions in the bill are a step forward in equality and stem from a continuous effort led by the Human Rights Campaign.
â€œThere is a large group of Americans that are left behind in traditional pension benefit models. We need to do better to keep these groups from falling through the cracks,â€ said Sen. Gordon Smith, R-Ore. â€œI am pleased that the pension reform legislation takes an important step to fill this gap by equalizing treatment in retirement savings vehicles for non-spouse beneficiaries.â€ . . .
(on side note, isn’t it beautiful that a Republican spoke out so strongly in favor of this law! Truly, wonders never cease!)