Improving Retirement Security for Family Caregivers Act of 2026

Retirement boost for family caregivers

If enacted, you would be able to use the normal annual IRA contribution limit for the tax year if you qualify as a "qualified family caregiver." To qualify, you would need at least 500 hours of unpaid caregiving in the year and fewer than 500 hours of paid work. A family caregiver would be an unpaid family member, a foster parent, or another unpaid adult who is unemployed or severely underemployed and who gives in‑home care to a child or an adult with a special need, including elderly adults needing age‑related care. Caregiving hours would include tasks like bathing, dressing, laundry, shopping or food prep, housekeeping, managing medications, transportation, and mobility assistance. This rule would apply to taxable years beginning after December 31, 2026, and would apply even when spousal IRA rules would otherwise limit contributions.