What is the official ID of this bill?
The official print number for this legislation is S 1955.
Social Security Caregiver Credit: Recognizing Unpaid Care Work for Retirement Benefits
This act aims to credit unpaid caregiving work for dependent relatives towards Social Security benefits, allowing caregivers to accrue deemed wages for up to five years of service. This will help improve the retirement security of individuals who often sacrifice their careers to provide essential care, ensuring they receive higher Social Security payments in the future. The changes apply to care for children under 12 or chronically dependent individuals.
Key points
Caregivers of dependent relatives (children under 12, chronically dependent individuals) can receive up to 5 years of deemed wages for Social Security purposes.
For each qualifying month of unpaid care, an amount equal to 50% of the national average wage index will be credited towards Social Security benefits.
To qualify, individuals must apply to the Social Security Administration and provide documentation verifying the dependent relative's status.
The act seeks to enhance the financial and retirement security of individuals providing essential family care.
Status:
Expired
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