To amend the Internal Revenue Code of 1986 to allow penalty-free distributions from qualified retirement plans on account of the death or disability of the participant's spouse.

Fact Sheet API

Bill Number

HR 64

Introduced

Jan 7, 2003

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Annuities Disabled Families Finance and Financial Sector Income tax Individual retirement accounts Labor and Employment Married people Mutual funds Pension funds Survivors' benefits Tax exclusion Tax penalties Tax-deferred compensation plans Taxation Widowers Widows Women

Full Text

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Votes

Summary

Amends the Internal Revenue Code to allow penalty-free distributions, on account of the death or disability of the participant's spouse, from qualified retirement plans, including: (1) employee annuities purchased by charitable organizations or public schools; (2) custodial accounts for regulated investment company stock; and (3) Roth individual retirement accounts (Roth IRAs).

Actions

Jan 7, 2003

Referred to the House Committee on Ways and Means.
Jan 7, 2003

Introduced in House

Amendments

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