Increases dollar amount eligibility for IRA and Roth IRA deductibility.
Amends Federal law to permit Federal employee Thrift Savings Fund catch-up contributions.
Amends the Code to expand and make permanent the credit for elective deferrals and IRA contributions for certain individuals.
Increases incrementally, from the current of age 70 1/2 to age 75 the required beginning date for distributions from qualified plans. Establishes: (1) $300,000 amounts not subject to minimum distribution requirements for defined contribution and individual retirement plans; and (2) $0 for defined benefit plans.
Permits exempt trust and IRA rollovers to a spouse's retirement plan.
Permits rollovers by nonspouse designated beneficiaries for the following retirement plans: (1) State and local government or tax-exempt organization deferred compensation plans; (2) employer-purchased employee annuity plans; and (3) certain tax-exempt organization or public school employee annuities.
Provides for certain tax-free changes of "equal periodic payment" annuity determinations.
Permits certain nonelective employer contributions to be made for qualifying employee "simple retirement accounts."
Imposes a golden parachute excise tax on excessive employee remuneration paid by a corporation after bankruptcy.
Provides for a study of defined contribution plan losses due to market volatility.