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H.R.3910 - To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.115th Congress (2017-2018) |

Bill

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Sponsor: Rep. Neal, Richard E. [D-MA-1] (Introduced 10/02/2017)
Committees: House - Ways and Means
Latest Action: House - 10/02/2017 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

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  • Constitutional Authority Statement
  • CBO Cost Estimates [0]

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Summary: H.R.3910 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.3910. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/02/2017)

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.