A bill to amend the Internal Revenue Code of 1986 to allow certain family caregivers to contribute to a Roth IRA.
Improving Retirement Security for Family Caregivers Act of 2024
This bill allows qualified family caregivers to contribute up to $7,000 (in 2025) to a Roth IRA (or up to $8,000 (in 2025) for individuals who are age 50 or older). A qualified family caregiver is an unemployed or severely underemployed adult who provides 500 hours or more during one tax year of in-home care, monitoring, management, supervision, or treatment of an adult with special needs or a child.
Introduced in Senate
Read twice and referred to the Committee on Finance. (text: CR S6371)
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