Search Results for keywords:"catch-up contributions"

Search Results: keywords:"catch-up contributions"

H. R. 6772 — 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.
December 13, 2023
Status:Introduced in House
Congress:118
Words:877
H. R. 6772 aims to amend the Internal Revenue Code to allow individuals who have taken time away from work to provide care for dependents to make retirement account catch-up contributions at a younger age than currently allowed. The bill defines an "eligible individual" as...
Simple Explanation
H. R. 6772 is a bill that wants to let people who take time away from their jobs to care for family members save more money for when they're older and not working. It lets them start saving extra money earlier because they missed work to help take care of others.
S. 5149 — To amend the Internal Revenue Code of 1986 to allow additional catch-up contributions for certain family caregivers.
September 24, 2024
Status:Introduced in Senate
Congress:118
Words:654
S. 5149, also known as the "Catching Up Family Caregivers Act of 2024," proposes changes to the Internal Revenue Code of 1986. The bill aims to allow certain family caregivers to make additional catch-up contributions to their retirement accounts. To qualify, an individual...
Simple Explanation
This bill wants to let certain people who take care of family members without getting paid save more money for their future. To do this, they need to help their family for at least 500 hours in a year.
H. R. 9764 — To amend the Internal Revenue Code of 1986 to allow additional catch-up contributions for certain family caregivers.
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September 23, 2024
Status:Introduced in House
Congress:118
Words:836
H.R. 9764, also known as the "Catching Up Family Caregivers Act of 2024," aims to amend the Internal Revenue Code of 1986. The bill proposes allowing additional catch-up contributions to retirement plans for individuals who are qualified family caregivers. These caregivers...
Simple Explanation
This bill lets family members who look after someone at home put more money into their savings for the future, just like grown-ups who are getting close to retirement age can, even if they don't get paid a lot or at all for taking care of their family.

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