,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #egfa  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ac1 #bjaf,mr4  
,b]a 7= himself & ,mr4 ,re$7 introduc$ !
 foll[+ bill2 :i* 0 ref]r$ to !         
,committee on ,ways & ,means1 & 9       
addition to ! ,committee on ,education &
 ! ,work=ce1 = a p]iod to be subsequ5tly
 det]m9$ by ! ,speak]1 9 ea* case =     
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to am5d ! ,int]nal ,rev5ue    
,code ( #aihf to p]mit p5alty-free      
9-s]vice retirem5t di/ributions =       
employees s]v+ z m5tors4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,tra9 ! 
,future ,act4  #b4 ,enc\rag+ m5tors to  
tra9 ! future  7a7 ,e>ly di/ributions f 
qualifi$ retirem5t plans ,section       
#gb7t77#b7 ( ! ,int]nal ,rev5ue ,code ( 
#aihf is am5d$--  7#a7 9 subp>agraph    
7,a7-- 7,a7 by /rik+ or at ! end (      
clause 7vii72  7,b7 by /rik+ ! p]iod at 
! end ( clause 7viii7 & ins]t+ 1 or2 &  
7,c7 by add+ at ! end ! foll[+ new      

clause3  7ix7 made to an employee :o is 
s]v+ z a m5tor4  2 &  7#b7 by add+ at ! 
end ! foll[+ new subp>agraph3  7,h7     
,di/ributions to ,m5tors ,= purposes (  
?is p>agraph1 ! t]m m5tor means an      
individual :o-- 7i7 has atta9$ #ee ye>s 
( age1  7ii7 is n sep>at$ f _! employm5t
 ) a company1 corporation1 or in/itution
 ( high] education1  7iii7 9 accordance 
) su* requirem5ts & /&>ds z ! ,secret>y 
det]m9es to be necess>y1 has            
sub/antially r$uc$ _! h\rs ( employm5t )
 _! employ]1 ) ! individual to be engag$
 9 m5tor+ activities describ$ 9 clause  
7iv7 = n less ?an #bj p]c5t ( ! h\rs (  
employm5t aft] su* r$uction1 &  7iv7 is 
responsible = ! tra9+ & education (     
employees or /ud5ts 9 an area ( exp]tise
 = :i* ! individual has a pr(essional   
cr$5tial1 c]tificate1 or degree4  4  7b7
 ,di/ributions dur+ work+ retirem5t     
,p>agraph 7#cf7 ( section #dja7;a7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7#cf7 ,di/ributions  
dur+ work+ retirem5t  7,a7 ,9 g5]al ,a  

tru/ =m+ "p ( a p5sion plan %all n be   
treat$ z fail+ to con/itute a qualifi$  
tru/ "u ?is section solely because !    
plan provides t a di/ribution may be    
made f su* tru/ to an employee :o--  7i7
 has atta9$ age #fb & :o is n sep>at$ f 
employm5t at ! "t ( su* di/ribution1 or 
7ii7 subject to subp>agraph 7,b71 is    
s]v+ z a m5tor 7z su* t]m is def9$ 9    
section #gb7t77#b77;,h774  7,b7         
,limitation on di/ributions to m5tors ,=
 purposes ( subp>agraph 7,a77ii71 !     
am\nt ( ! di/ribution made to an        
employee :o is s]v+ z a m5tor %all n be 
great] ?an ! am\nt equal to ! product   
obta9$ by multiply+--  7i7 ! am\nt ( !  
di/ribution t w\ld h be5 payable to !   
employee if su* employee _h sep>at$ f   
employm5t in/ead ( r$uc+ _! h\rs (      
employm5t ) _! employ] & engag+ 9 m5tor+
 activities1 9 accordance ) clauses     
7iii7 & 7iv7 ( section #gb7t77#b77;,h71 
by  7ii7 ! p]c5tage equal to ! quoti5t  
obta9$ by divid+-- 7,i7 ! sum (--  7aa7 
! numb] ( h\rs p] pay p]iod by :i* !    

employee's h\rs ( employm5t are r$uc$1 &
  7bb7 ! numb] ( h\rs ( employm5t t su* 
employee is engag+ 9 m5tor+ activities1 
by  7,,ii7 ! total numb] ( h\rs p] pay  
p]iod work$ by ! employee be=e su*      
r$uction 9 h\rs ( employm5t4  4  7c7    
,,erisa ,subp>agraph 7,a7 ( section     
#c7b7 ( ! ,employee ,retirem5t ,income  
,security ,act ( #aigd 7#bi ,u4,s4,c4   
#ajjb7b77 is am5d$ by /rik+ ! p]iod at !
 end & ins]t+ ! foll[+3 1 or solely     
because su* di/ribution is made to an   
employee :o is s]v+ z a m5tor 7z su* t]m
 is def9$ 9 section #gb7t77#b77;,h7 ( ! 
,int]nal ,rev5ue ,code ( #aihf744  7d7  
,application ,! am5dm5ts made by ?is    
section %all apply to di/ributions made 
9 taxable ye>s beg9n+ aft] ,decemb] #ca1
 #bjae4