Expanding Access to Retirement Savings for Caregivers Act This bill allows an individual to make annual catch up contributions to a retirement account before reaching age 50 if the individual leaves the workforce to provide dependent cares services. Specifically, the individual must have been unemployed, and have had no earned income, as a result of providing care to (1) a dependent under the age of 13, or (2) a spouse physically or mentally incapable of self-care.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Administrative law and regulatory proceduresAgingDepartment of the TreasuryEmployee benefits and pensionsFamily relationshipsIncome tax deductionsIncome tax deferralLong-term, rehabilitative, and terminal careUnemployment
Expanding Access to Retirement Savings for Caregivers Act
USA116th CongressHR-3078| House
| Updated: 6/4/2019
Expanding Access to Retirement Savings for Caregivers Act This bill allows an individual to make annual catch up contributions to a retirement account before reaching age 50 if the individual leaves the workforce to provide dependent cares services. Specifically, the individual must have been unemployed, and have had no earned income, as a result of providing care to (1) a dependent under the age of 13, or (2) a spouse physically or mentally incapable of self-care.
Administrative law and regulatory proceduresAgingDepartment of the TreasuryEmployee benefits and pensionsFamily relationshipsIncome tax deductionsIncome tax deferralLong-term, rehabilitative, and terminal careUnemployment