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.