Women's Retirement Security Act of 2006

[AI summary unavailable — showing source text] 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 divo…