RETIREMENT PLAN LOANS-CONSENT

Creates the Joint Retirement Account Loan Act. Provides that before any loan is made from a joint retirement account or a joint retirement account is used as security for a loan, a plan representative must obtain the consent of both spouses. Provides that the spousal consent must be obtained no earlier than the beginning of the 90-day period that ends on the date on which the loan is to be secured. Specifies that the consent must be in writing, must acknowledge the effect of the loan, and must be witnessed by a plan representative or a notary public. Provides that the Act does not apply in circumstances where application of the Act would violate or is preempted by federal law.