A bipartisan group of lawmakers is advancing multiple pieces of legislation designed to strengthen retirement savings options for millions of unpaid family caregivers.

Two companion bills introduced in the House and Senate would modify retirement account rules to better reflect the realities caregivers face.

Under one proposal, the Improving Retirement Security for Family Caregivers Act, eligible caregivers could contribute up to the maximum Roth IRA limit even with reduced earnings.

The second measure, the Catching Up Family Caregivers Act, would allow returning caregivers to make enhanced catch-up contributions — currently up to $11,250 — for five years regardless of age, CNBC details ⇒

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