118th Congress · HOUSE BILLBILL

H.R. 6772 — Expanding Access to Retirement Savings for Caregivers Act

“To amend the Internal Revenue Code of 1986 to reduce the age for making catch-up contributions to retirement accounts to take into account time out of the workforce to provide dependent care services.”

Taxation

Introduced Dec 13, 2023

Last action Dec 13, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 13, 2023

Step 2

Referred

Dec 13, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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 care 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.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Dec 13, 2023

Introduced in House

Dec 13, 2023

Referred to the House Committee on Ways and Means.