S 5148
118th Congress
Senate
Taxation
Improving Retirement Security for Family Caregivers Act of 2024
Introduced: September 24, 2024
Introduced by:
Collins, Susan M.
Republican
· Maine
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 2024
Read twice and referred to the Committee on Finance. (text: CR S6371)
Sep 24, 2024
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance. (text: CR S6371)
Committees of jurisdiction
1