S. 4292

119 S4292 IS: Improving Retirement Security for Family Caregivers Act of 2026
 U.S. Senate
 2026-04-14
 text/xml
 EN
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 II  119th CONGRESS  2d Session  S. 4292  IN THE SENATE OF THE UNITED STATES   April 14, 2026   Ms. Collins  (for herself and  Mr. Warner ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to allow certain family caregivers to contribute to a Roth IRA.
1.
Short title
This Act may be cited as the   Improving Retirement Security for Family Caregivers Act of 2026  .
2.
Roth IRA contributions for certain family caregivers
(a)
In general
Subsection (c) of  section 408A  of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
(7)
Special rule for Roth IRA contributions of qualified family caregivers
(A)
In general
In the case of an individual who is a qualified family caregiver as of the close of the taxable year, in applying section 219 for purposes of paragraph (2), the limitation of paragraph (1) of section 219(b) shall be equal to the dollar amount in effect under section 219(b)(1)(A) for the taxable year.
(B)
Qualified family caregiver
For purposes of this paragraph—
(i)
In general
The term  qualified family caregiver  means an individual who, during the taxable year—
(I)
has completed 500 or more hours as a family caregiver, and
(II)
has completed fewer than 500 hours of paid employment (including self-employment).
(ii)
Family caregiver
The term  family caregiver  means an unpaid family member, a foster parent, or another unpaid adult, who is unemployed or severely underemployed (as determined by the Secretary) and who provides in-home care, monitoring, management, supervision, or treatment of—
(I)
a child, or
(II)
an adult with a special need (as defined in section 2901 of the Public Health Service Act), including an elderly adult who requires care or supervision due to an age-related condition.
(iii)
Hours
An individual shall be treated as serving as a family caregiver during the hours in which the individual is engaged in caregiving tasks including assistance with bathing or grooming, dressing, laundry, food shopping or preparation, housekeeping, managing medications, transportation, and mobility assistance.
(C)
Coordination with spousal IRA
In the case of an individual to whom section 219(c)(1) applies for the taxable year, subparagraph (A) shall be applied notwithstanding such section.
 .
(b)
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2025.