Congresswoman María Elvira Salazar and Representative Brittany Pettersen introduced two bipartisan bills on Apr. 20 that aim to help family caregivers save for retirement. The Improving Retirement Security for Family Caregivers Act of 2026 and the Catching Up Family Caregivers Act of 2026 seek to address financial challenges faced by those who leave the workforce to care for loved ones. Senators Susan Collins and Mark Warner have also introduced companion legislation in the U.S. Senate, giving the effort bipartisan, bicameral support.
The issue is important because many Americans who take on caregiving responsibilities often do so at a personal financial cost, potentially sacrificing their own long-term security. Lawmakers say current policies penalize those who provide essential care by limiting their ability to save for retirement.
“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.”
Representative Pettersen said, “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. 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.”
Senator Collins added: “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. 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.” Senator Warner said: “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. 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.”
The Improving Retirement Security for Family Caregivers Act would allow family caregivers whose earnings drop due caregiving duties—currently capped by law—to contribute up $7,000 annually into Roth IRAs regardless of reduced income during caregiving periods.
The Catching Up Family Caregivers Act would enable full-time family caregivers extra years—up five additional—for maximum catch-up contributions in employer-sponsored plans beyond what current law allows individuals over age 50 or between ages 60-63.
Both pieces of legislation have received endorsements from several organizations including SIFMA (Securities Industry and Financial Markets Association), American Benefits Council, Edward Jones Grassroots Task Force, Insured Retirement Institute,and Women’s Institute for Secure Retirement (WISER). The Alzheimer’s Association has endorsed specifically The Catching Up Family Caregivers Act.
Salazar has made strengthening retirement security as well as supporting working families priorities during her time in Congress.
