Reps. Salazar, Pettersen, & Sens. Collins, Warner Introduce Bipartisan, Bicameral Bills to Help Family Caregivers Save for Retirement

WASHINGTON, D.C.- Congresswoman María Elvira Salazar (R-FL-27) and U.S. Representative Brittany Pettersen (D-CO-07) introduced two bipartisan bills that would help family caregivers better save for retirement. 

The Improving Retirement Security for Family Caregivers Act of 2026 (H.R. 8274) and Catching Up Family Caregivers Act of 2026 (H.R. 8273), would help address the financial challenges faced by individuals who leave the workforce to care for loved ones, often sacrificing their own long-term financial security.

Senators Susan Collins (R-ME) and Mark Warner (D-VA) have introduced companion legislation in the U.S. Senate, giving the effort bipartisan, bicameral momentum and strengthening the path forward for caregivers nationwide.

"Caregiving is one of the most important jobs, but our current policies penalize selfless Americans who look after their loved ones," said Representative Salazar. "I'm proud to co-lead and reintroduce the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act, which will reward caregivers with new opportunities to secure a dignified retirement."

"Our caregivers do some of the most important but underappreciated work in our country - everything from cooking meals, to administering medications, paying bills, and driving loved ones to frequent medical appointments. But that care can take a toll on their personal lives, with caregivers taking a big personal financial hit when they take time from work to prioritize their loved ones," said Representative Pettersen. "This can often have long-term impacts, which is why I'm proud to introduce these two pieces of legislation to make it easier for caregivers to save for retirement. Ensuring caregivers can take care of their own financial health ensures they can keep taking care of their families."

"Family caregivers provide critical support to their loved ones, yet many are forced to step away from work, limiting their ability to take full advantage of retirement savings opportunities," said Senator Collins. "These two bipartisan bills would give these individuals a better opportunity to build a secure financial future and help ensure they are not penalized for the vital care they provide."

"Family caregivers often step away from the workforce to look after relatives, and by doing so, many end up missing out on key opportunities to save for their own golden years," said Senator Warner. "No one should lose their own financial security because they provided essential care to a loved one. I'm proud to introduce two bipartisan bills that would give these caregivers the flexibility to continue contributing to retirement accounts and prepare for their own futures."

Specifically, the Improving Retirement Security for Family Caregivers Act would:

• Allow family caregivers to contribute to a Roth IRA.
• Current law caps Roth IRA contributions at the lower of $7,000 or yearly income, limiting caregivers' ability to save for retirement when their earnings are reduced due to caregiving responsibilities.
• By eliminating this yearly income cap for family caregivers, the bill would help ensure they can continue to save up to $7,000 for retirement even if their wages fall beneath that amount while caring for a loved one.

Specifically, the Catching Up Family Caregivers Act would:

• Allow family caregivers additional years of eligibility for the highest catch-up contribution levels in employer-sponsored retirement plans.
• Catch-up contributions currently allow individuals over age 50 to contribute above the standard annual limit, with even higher limits available for those ages 60 to 63.
• These provisions are designed to help individuals make up for years when they were unable to save. Building on that approach, this bill would allow full-time family caregivers to qualify for up to five additional years of maximum catch-up contributions.

Both pieces of legislation are endorsed by the Securities Industry and Financial Markets Association (SIFMA), the American Benefits Council, the Edward Jones Grassroots Task Force, the Insured Retirement Institute, and the Women's Institute for a Secure Retirement (WISER). The Catching Up Family Caregivers Act is also endorsed by the Alzheimer's Association.

Rep. Salazar has made strengthening retirement security and supporting working families a priority in Congress. These bills reflect growing bipartisan recognition that caregivers provide an invaluable service and deserve policies that protect their long-term financial security.