Expanding Access to Retirement Savings for Caregivers Act

This bill modifies retirement savings rules to help caregivers who temporarily leave the workforce. It allows eligible individuals to make "catch-up" contributions to retirement accounts (like IRAs or 401(k)s) as if they were age 50, even if they're younger, based on how long they've been out of work providing care. Specifically, the age threshold is reduced by the number of years spent in "qualified unemployment periods" (defined as at least one year caring for dependents with no earned income, after age 18). To qualify, individuals must self-attest under penalty of perjury that they meet these conditions. The change applies to taxable years after the bill's enactment.