A working spouse can contribute to an IRA on behalf of a nonworking spouse to grow the retirement savings of the couple. The contributions cannot exceed the earned income of the working spouse. In honor of a former U.S. senator, the spousal IRA has been renamed the Kay Bailey Hutchison Spousal IRA. The change in name does not change the rules for spousal IRAs in any way.
As a reminder: For 2013, the maximum IRA contribution per spouse is $5,500, or $6,500 if you’re 50 or older by the end of this year.
Source: H.R. 2289
Distributions that must be taken annually to avoid a 50% IRS penalty by a traditional IRA account holder starting with the year age 70?