Amend Title II of the Social Security Act to accredit people who work as caregivers of dependent family members with a salary equivalent to a maximum of five years. Amend Title II of the Social Security Act to accredit individuals who serve as caregivers of dependent family members with a salary equivalent to a maximum of five years of service. Social Security credits for caregivers complement paid parental leave policies by helping parents who decide to stay home with a young child maintain retirement security. The Social Security Caregiver Credits Act would provide retirement credits to unpaid caregivers who spend at least 80 hours a month caring for a dependent family member under 12 or a person with chronic dependency.
A chronically dependent person is someone who cannot do basic activities without the help of a caregiver. This summary focuses on the use of Social Security credits for caregivers to ensure that caregivers do not experience long-term financial hardship. Finally, there's help for Oklahoma caregivers and for the parents, spouses and other loved ones they care for, thanks to a tax credit provided by the Caregiver Care Act. Senator Kirsten Gillibrand, a member of the Senate Committee on Aging, offered a video press conference to announce the reintroduction of the Social Security Credit Act for Caregivers, legislation that would grant Social Security credits to caregivers.
The Caregiver Care Tax Credit covers out-of-pocket expenses incurred by an unpaid family caregiver for a limited set of services. Establishing a credit for caregivers would strengthen the economic prospects of unpaid caregivers and provide them with vital security for retirement.
