Social Security Caregiver Credit Act of 2014

Summary: Social Security Caregiver Credit Act of 2014 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act with respect to determining entitlement to and the amount of any monthly benefit, including any lump-sum death payment, payable under OASDI on the basis of the wages and self-employment income of any individual. Deems such an individual to have been paid a wage (according to a specified formula) during each month during which the individual was engaged for at least 80 hours in providing care to a dependent relative without monetary compensation for up to five years of such service. Makes this Act inapplicable in the case of any monthly benefit or lump-sum death payment if a larger benefit or payment would be payable without its application. 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security Caregiver Credit Act 
of 2014''.

SEC. 2. FINDINGS.

    Congress finds that:
            (1) Caregiving is an essential element of family life and a 
        vital service for children, the ill, the disabled, and the 
        elderly.
            (2) The establishment of a caregiver credit would bolster 
        the economic prospects of unpaid caregivers and would provide 
        them with vital retirement security.
            (3) The 2013 Annual Report of the Board of Trustees of the 
        Federal Old-Age and Survivors Insurance and Federal Disability 
        Insurance Trust Funds concluded that the combined Trust Funds 
        will be able to pay scheduled benefits in full until 2033.
            (4) While there is no immediate crisis, policy options 
        should be considered to extend OASDI solvency, including by 
        eradicating the gender wage gap, increasing overall employment, 
        or increasing the minimum wage.

SEC. 3. DEEMED WAGES FOR CAREGIVERS OF DEPENDENT RELATIVES.

    Title II of the Social Security Act is amended by adding after 
section 234 (42 U.S.C. 434) the following new section:

          ``deemed wages for caregivers of dependent relatives

    ``Sec. 235.  (a) Definitions.--For purposes of this section--
            ``(1) The term `qualifying month' means, in connection with 
        an individual, a month during which such individual was engaged 
        for not less than 80 hours in providing care to a dependent 
        relative without monetary compensation. Such term does not 
        include any month ending after the date on which such 
        individual attains retirement age (as defined in section 
        216(l)).
            ``(2) The term `dependent relative' means, in connection 
        with an individual--
                    ``(A) a child, grandchild, niece, or nephew (of 
                such individual or such individual's spouse or domestic 
                partner) who is under the age of 12, or
                    ``(B) a child, grandchild, niece, or nephew (of 
                such individual or such individual's spouse or domestic 
                partner), a parent, aunt, or uncle (of such individual 
                or his or her spouse or domestic partner), or such 
                individual's spouse or domestic partner, if such child, 
                grandchild, niece, nephew, parent, aunt, uncle, spouse, 
                or domestic partner is a chronically dependent 
                individual.
            ``(3)(A) The term `chronically dependent individual' means 
        an individual who--
                    ``(i) is dependent on a daily basis on verbal 
                reminding, physical cueing, supervision, or other 
                assistance provided to the individual by another person 
                in the performance of at least two of the activities of 
                daily living (described in subparagraph (B)), and
                    ``(ii) without the assistance described in clause 
                (i), could not perform such activities of daily living.
            ``(B) The `activities of daily living' referred to in 
        subparagraph (A) are the following:
                    ``(i) Eating.
                    ``(ii) Bathing.
                    ``(iii) Dressing.
                    ``(iv) Toileting.
                    ``(v) Transferring in and out of a bed or in and 
                out of a chair.
    ``(b) Deemed Wages of Caregiver.--(1)(A) For purposes of 
determining entitlement to and the amount of any monthly benefit for 
any month after December 2014, or entitlement to and the amount of any 
lump-sum death payment in the case of a death after such month, payable 
under this title on the basis of the wages and self-employment income 
of any individual, and for purposes of section 216(i)(3), such 
individual shall be deemed to have been paid during each qualifying 
month (in addition to wages or self-employment income actually paid to 
or derived by such individual during such month) at an amount per month 
equal to--
            ``(i) in the case of a qualifying month during which no 
        wages or self-employment income were actually paid to or 
        derived by such individual, 50 percent of the average amount of 
        wages and self-employment income otherwise credited to 
        individuals for such month under this title; and
            ``(ii) in the case of any other qualifying month, the 
        excess of the amount determined under clause (i) over \1/2\ of 
        the wages or self-employment income actually paid to or derived 
        by such individual during such month.
    ``(B) In any case in which there are more than 60 qualifying months 
for an individual, only the last 60 of such months shall be taken into 
account for purposes of this section.
    ``(2) Paragraph (1) shall not be applicable in the case of any 
monthly benefit or lump-sum death payment if a larger such benefit or 
payment, as the case may be, would be payable without its application.
    ``(c) Identification Requirements.--A qualifying month shall not be 
taken into account under this section with respect to an individual 
unless such individual provides the Commissioner of Social Security 
with the name and identifying information of the dependent relative 
with respect to whom the individual was engaged in providing care 
during such month, and other information as the Commissioner may 
require to verify the status of the dependent relative, on whatever 
application may be required to obtain benefits under this section.''.