GRACE for Military Survivors Act

The GRACE for Military Survivors Act would extend the time period for contributing military death benefits to Roth IRAs and Coverdell education savings accounts from one year to three years. It applies to survivors of military personnel who receive death benefits under sections 1477 of title 10 or 1967 of title 38 of the United States Code. The change applies to benefits received on or after the bill’s enactment and also allows retroactive contributions for benefits received between October 7, 2001, and enactment, provided contributions are made within three years of receipt or one year after enactment, whichever is later.

AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.