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

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 2 October 2017

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 October 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 October 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 October 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 October 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 October 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 2 October 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Bishop, Mike [R-MI-8] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← Automatic Retirement Plan Act of 2017
• related to ← Retirement Plan Simplification and Enhancement Act of 2017