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HR 3910 115th Congress House Taxation Employee benefits and pensions Financial services and investments Income tax deferral

To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Introduced: October 2, 2017 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 2, 2017
Referred to the House Committee on Ways and Means.
Oct 2, 2017
Introduced in House
 Plain-English summary Congressional Research Service

This bill amends the Internal Revenue Code to allow distributions from certain tax-favored employer-sponsored retirement plans if a lifetime income investment or managed account investment is no longer authorized to be held as an investment option under the plan.

If a lifetime income or managed account investment is no longer authorized to be held as an investment option under the plan, the bill allows: (1) qualified distributions of a lifetime income investment or a managed account investment, or (2) distributions of a lifetime income investment in the form of a qualified plan distribution annuity contract.

A "qualified distribution" is a direct trustee-to-trustee transfer to an eligible retirement plan. A "qualified plan distribution annuity contract" is an annuity contract purchased for a participant and distributed to the participant by an employer-sponsored retirement plan.

What's happening now October 2, 2017

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1