Reps. Schrier & DelBene’s Bill to Help Home Healthcare Workers Save for Retirement Passes House
WASHINGTON, DC – Congresswomen Kim Schrier, M.D. (WA-08) and Suzan DelBene (WA-01) today announced that their bill to help home healthcare workers save for retirement has passed the House. The bill was passed as part of a larger package to strengthen Americans’ retirement security called the SECURE Act (H.R. 1994). The bill now moves to the Senate.
“I was so happy to introduce this bill with my colleague Suzan DelBene,” said Rep. Schrier. “These workers, mostly women, are already at the lowest end of the payscale and are at risk for financial insecurity after retirement. I’m excited that with the passage of the SECURE Act, many home health care workers will be able to save for retirement and have that economic security.”
“Home care workers provide critical services for the elderly and disabled all throughout Washington state. Their service is vital to ensuring patients under their care lead a dignified life, and it’s only right that they are able to have a secure retirement. I’m pleased I was able to work with my friend Kim Schrier to pass this legislation as part of the SECURE Act,” said Rep. DelBene.
The bill introduced by Reps. Schrier and DelBene (H.R. 1932) addresses the tax code that currently prevents many home health care workers from participating in a retirement plan, like an IRA. H.R. 1932, included in the SECURE Act, will clarify that income exempt under the “difficulty of care” exemption is treated as compensation in order to allow individuals to participate in a retirement plan.
In addition to helping home health care workers, the SECURE Act includes numerous provisions to make it easier for American workers to save for retirement, expand opportunities for them to increase their retirement savings and ensure that all Americans are paying their fair share in taxes. This will happen by making it easier for small businesses to offer retirement plans to employees and allowing long-time, part-time workers to participate in a 401(k) plan.