Labor & Employment (Retirement Benefits) in United States

in committee · United States · Senate Apr 14, 2026

S 4292: Improving Retirement Security for Family Caregivers Act of 2026

This bill, the "Improving Retirement Security for Family Caregivers Act of 2026," aims to enhance retirement savings for unpaid family caregivers. It allows individuals who provide at least 500 hours of unpaid care to a child or an adult with special needs, while working fewer than 500 hours in paid employment, to contribute to a Roth IRA. Currently, Roth IRA contributions are limited by earned income; this legislation enables these qualified caregivers to contribute the maximum allowable amount to a Roth IRA, even if they have little to no earned income. This change helps caregivers build retirement savings despite their reduced capacity for paid work due to caregiving responsibilities.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · House Apr 15, 2026

HR 8314: OPTIONS Act

The OPTIONS Act establishes a new type of employer-sponsored benefit arrangement called a Qualified Benefit Options Plan (QBOP), affecting employers and their employees. Under a QBOP, employees can choose how their employer's contributions are allocated among various pre-tax qualified benefits, such as contributions to retirement plans, health savings accounts, or educational assistance programs. A key distinction is that employees cannot opt to receive cash or other taxable benefits instead of these qualified benefits. Employer contributions made through a QBOP are excluded from an employee's taxable income, offering a tax-advantaged way for employers to provide flexible benefit options. The bill includes rules to ensure benefits are not disproportionately skewed towards highly compensated employees and applies to taxable years beginning after December 31, 2025.

Topics ✓ Healthcare ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · Senate Apr 14, 2026

S 4291: Catching Up Family Caregivers Act of 2026

The Catching Up Family Caregivers Act of 2026 allows eligible unpaid family caregivers to make additional "catch-up" contributions to their retirement accounts, such as 401(k)s and IRAs. To qualify, an individual must have provided at least 500 hours of unpaid family caregiving and worked fewer than 500 hours in paid employment during the same taxable year, with a lifetime limit of five years. This caregiving involves providing in-home support for a child or an adult with special needs, including elderly individuals requiring care due to age-related conditions. The bill enables these qualified caregivers to contribute more to their retirement savings than standard limits, similar to individuals nearing traditional retirement age. These provisions will take effect for taxable years beginning after December 31, 2026.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · House Apr 14, 2026

HR 8273: Catching Up Family Caregivers Act of 2026

This bill allows unpaid family caregivers to make additional retirement contributions to their Individual Retirement Accounts (IRAs) without being subject to the usual age restrictions. To qualify, an individual must provide at least 500 hours of unpaid care for a child or an adult with special needs while working fewer than 500 hours of paid employment in the same year. The law defines caregiving tasks to include daily activities like bathing, medication management, and transportation, and permits employers to accept a caregiver's written statement as proof of their status. These changes would take effect for retirement years beginning after December 31, 2026, helping family members who dedicate significant time to caring for relatives save for retirement.

Topics ✓ Healthcare ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · Senate Mar 24, 2026

S 4184: Senior Citizens’ Freedom to Work Act of 2026

This bill, the Senior Citizens' Freedom to Work Act of 2026, removes restrictions that currently reduce Social Security and Railroad Retirement benefits for older Americans who work after reaching retirement age. The key provision repeals the Retirement Earnings Test, which previously lowered monthly payments for beneficiaries who earned income from employment or self-employment. By eliminating these deductions, the legislation allows seniors to continue working without facing benefit reductions, directly affecting retirees who wish to remain in the workforce. The changes apply to taxable years beginning after the bill is enacted and include technical updates to related provisions in the Social Security Act and Railroad Retirement Act.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits Tags Seniors

in committee · United States · House Feb 12, 2026

HR 7556: Pensions for All Act

The Pensions for All Act requires most private sector employers and self-employed individuals to either provide a retirement plan comparable to the Federal Employees Retirement System (FERS) or enroll in FERS. It establishes reduced contribution requirements for smaller employers (with revenue under $100 million) and lower-income self-employed individuals (with income under $125,000), with specific calculation methods based on business size and income. The bill imposes a $10-per-day penalty for failure to provide an adequate retirement plan, with inflation adjustments after 2026, and creates tax credits for eligible retirement contributions through the Internal Revenue Code. The law specifically applies to non-federal workers, as federal employees are already covered by FERS.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · Senate May 21, 2025

S 1840: Retirement Investment in Small Employers Act

This bill creates a new tax credit to help small businesses set up retirement plans. It increases the credit from 50% to 100% of costs (up to $2,500) for employers with 10 or fewer workers who establish a qualifying retirement plan. The credit applies to plans that accept matching contributions under existing rules. The changes take effect for tax years beginning after December 31, 2024.

Topics ✓ Budget & Taxes ✓ Labor & Employment

Sub-Topics Tax Credits Retirement Benefits

in committee · United States · House Jan 9, 2025

HR 329: Expanding Penalty Free Withdrawal Act

This bill allows unemployed individuals to withdraw funds from retirement accounts without the usual 10% penalty under specific conditions. It applies to people who have received unemployment benefits for 26 consecutive weeks and withdraw money during the year they received benefits or the following year. Withdrawals are limited to $50,000 (or half the value of their retirement accounts, whichever is lower) over a one-year period. The change affects workers facing job loss who need access to retirement savings for immediate financial needs, but does not apply to withdrawals used for health insurance premiums. The provisions take effect for distributions after December 31, 2024.

Topics ✓ Budget & Taxes ✓ Labor & Employment

Sub-Topics Retirement Benefits Unemployment

in committee · United States · House Feb 13, 2025

HR 1357: Susan Muffley Act of 2025

This bill requires the Pension Benefit Guaranty Corporation (PBGC) to recalculate monthly pension benefits for retirees in six specific Delphi-related pension plans to reflect the full vested amount they would have received without prior benefit limits. It mandates lump-sum payments for past underpayments, including 6% annual interest, to eligible retirees and beneficiaries who received lower benefits than guaranteed under ERISA. The PBGC must fund these payments through a new Delphi Full Vested Plan Benefit Trust Fund established in the Treasury. This directly affects retirees in the Delphi Hourly-Rate, Delphi Retirement Program for Salaried Employees, PHI Non-Bargaining, ASEC Manufacturing, PHI Bargaining, and Delphi Mechatronic Systems pension plans. The law does not alter existing PBGC rules for other plans or change how the agency administers benefits generally.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · United States · House Mar 11, 2025

HR 2023: Women's Retirement Protection Act

The Women's Retirement Protection Act aims to improve retirement security for women by requiring spousal consent for certain retirement plan distributions and beneficiary changes in defined contribution plans (like 401(k)s). It directly affects women participating in workplace retirement plans, particularly those in defined contribution plans who face greater financial vulnerability during divorce. Key provisions include adding "spousal consent requirements" to retirement plans to prevent unilateral decisions about retirement savings, creating grants for financial literacy programs for women, and providing assistance for low-income women and domestic violence survivors in obtaining retirement benefits through divorce. The bill addresses documented disparities where women's average Social Security benefit is $1,638 monthly compared to men's $2,020, and women aged 80+ have a higher poverty rate than men in the same age group.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

All labor & employment bills