119th (2025–2027)
S. 4292
This bill allows family caregivers who have limited paid employment to contribute to Roth IRAs for retirement savings. To qualify, an individual must complete at least 500 hours of unpaid caregiving work during the year while having fewer than 500 hours of paid employment, and must be caring for a child or an adult with special needs, including elderly adults requiring supervision due to age-related conditions. The bill permits these caregivers to contribute up to the standard annual Roth IRA limit even though they may have little earned income from traditional employment. The provision takes effect for tax years beginning after December 31, 2025, and also allows married couples where one spouse is a caregiver to make coordinated contributions under spousal IRA rules.