HR 9765
Improving Retirement Security for Family Caregivers Act of 2024
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Improving Retirement Security for Family Caregivers Act of 2024, allows certain family caregivers to contribute to a Roth IRA. Specifically, unemployed or severely underemployed adults who dedicate 500 or more hours annually to providing in-home care for a child or an adult with special needs can contribute up to $7,000 in 2025 (or $8,000 for those age 50 or older). This provision aims to provide a retirement savings option for individuals who dedicate a significant portion of their time to caregiving responsibilities.
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