Bill
Bill > S3527
US S3527
A bill to waive required minimum distribution rules for retirement plans in 2020.
summary
Introduced
03/18/2020
03/18/2020
In Committee
03/18/2020
03/18/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to waive required minimum distribution rules for retirement plans in 2020. This bill waives required minimum distributions from certain tax-exempt retirement plans for calendar year 2020.
AI Summary
This bill waives required minimum distributions from certain tax-exempt retirement plans, such as 401(k) plans, 403(b) plans, 457(b) plans, and individual retirement accounts (IRAs), for the 2020 calendar year. This provision is intended to provide relief to retirement plan participants who would otherwise be required to withdraw a minimum amount from their accounts, which may have decreased in value due to the economic impact of the COVID-19 pandemic. The bill also includes provisions to ensure that any distributions made in 2020 that would not have been considered eligible rollover distributions if the minimum distribution requirements had applied are not treated as such for tax purposes.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Read twice and referred to the Committee on Finance. (on 03/18/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/3527/all-info |
| BillText | https://www.congress.gov/116/bills/s3527/BILLS-116s3527is.pdf |
| Bill | https://www.congress.gov/116/bills/s3527/BILLS-116s3527is.pdf.pdf |
Loading...