To amend the Internal Revenue Code of 1986 to allow individuals who served in a combat zone as a member of the Armed Forces of the United States to make distributions from qualified retirement plans beginning at age 55 without being subject to the 10-percent additional tax for early withdrawal.

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Bill Number

HR 1094

Introduced

Mar 3, 2005

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Age Armed forces abroad Armed Forces and National Security Income tax Labor and Employment Military personnel Pension funds Social Welfare Tax exclusion Tax penalties Tax-deferred compensation plans Taxation Veterans' benefits

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Votes

Summary

Amends the Internal Revenue Code to permit members of the Armed Forces who have served in a combat zone to receive distributions from tax-qualified retirement plans at age 55 (currently, age 59 1/2) without incurring the ten percent penalty for early distributions.

Actions

Mar 3, 2005

Referred to the House Committee on Ways and Means.
Mar 3, 2005

Introduced in House

Amendments

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