United StatesAllows extra retirement catch-up contributions for eligible family caregivers
Expands who can make extra retirement contributions so people who reduce paid work to provide care can better save for retirement.
What it does
Defines a new status, “qualified family caregiver,” based on unpaid caregiving hours and limited paid work, for retirement catch-up eligibility.
Allows qualified family caregivers to make additional catch-up contributions to employer plans and treats them like participants aged 60–63 for catch-up amounts.
Amends the IRA catch-up rule to allow qualified family caregivers to be eligible for IRA catch-up contributions.
Permits employer plans to rely on a participant’s written self-certification that they were a qualified family caregiver.
Argument forHelps unpaid family caregivers rebuild retirement savings after reducing paid work, by allowing extra catch-up contributions tied to caregiving.
Argument againstSelf-certification may open the program to fraud or mistakes, creating enforcement costs and potential improper tax-favored contributions.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 14Introduced in HouseLatest
- Apr 14Referred to the House Committee on Ways and Means.Introduced
Taxes & BudgetHealthcareTransportation