HR 3644
Expanding Access to Retirement Savings for Caregivers Act
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- Passed House
- Passed Senate
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Bill overview
This bill, the Expanding Access to Retirement Savings for Caregivers Act, allows individuals who have taken time out of the workforce to provide care for a dependent under 13 or a spouse unable to care for themselves to make early catch-up contributions to their retirement accounts. It lowers the age at which these contributions can be made, reducing it from 50 to an age determined by the number of years spent unemployed while providing care. The bill requires a written declaration from the individual confirming their qualifying unemployment period.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Jackie Walorski
Cosponsors
Debbie Lesko
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