Murphy Introduces Bill to Provide Retirement Credit for Family Caregivers

Press Release

After holding a series of six roundtables with family caregivers, advocates, providers, and consumers of home care across Connecticut to learn about the issues impacting Connecticut caregivers, U.S. Senator Chris Murphy (D-Conn.) today announced the introduction of the Social Security Caregiver Credit Act to create a Social Security Caregiver credit and provide modest retirement compensation to individuals who have had to leave the workforce or reduce their hours to care for a loved one. Tens of millions of Americans leave the workforce entirely or reduce their hours significantly to care for loved ones at some point in their career. Studies indicate that on average, total wage, private pension, and Social Security losses due to caregiving total more than $300,000, threatening retirement security. Women, who make up two-thirds of unpaid caregivers, are disproportionately impacted. In Connecticut, the 65-and-over population is expected to grow by 57 percent by 2040. More than half of Connecticut residents age 40 and older say they have provided care on an unpaid basis for an adult loved one.

"Millions of people across the country sacrifice so much to care for loved ones. I've listened to caregivers across Connecticut, and many were forced to cut back on hours or leave their jobs," said Murphy. "This not only affects their pocketbooks today, but it reduces the amount they're paying into the Social Security system and takes a chunk out of the benefits they'll receive when they retire."

"People who care for loved ones deserve our gratitude. Penalizing caregivers by docking the Social Security benefits they count on is backwards. I'm introducing the Social Security Caregiver Credit Act because Washington should support those who support their families," Murphy added.

Murphy's Social Security Caregiver Credit Act has been endorsed by the following organizations: American Federation of State, County and Municipal Employees, The Arc of the United States, the National Organization for Women, the National Council on Aging, Caring Across Generations, the Sibling Leadership Network, the National Alliance for Caregiving, the Center for Community Change Action, Social Security Works, and Autism Speaks.

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