,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #efgf  ,,in ,,the ,,house ,,of  
,,representatives  ,january #bd1        
#bjbj,mr4 ,sablan 7for himself and ,mr4 
,walberg7 introduced the following bill2
 which was referred to the ,committee on
 ,education and ,labor1 and in addition 
to the ,committee on ,ways and ,means1  
for a period to be subsequently         
determined by the ,speaker1 in each case
 for consideration of such provisions as
 fall within the jurisdiction of the    
committee concerned  ,a ,,bill  ,to     
increase the amount of accrued benefit  
which a pension plan may distribute     
after employee separation4  #a4 ,short  
title ,this ,act may be cited as the    
,retirement ,plan ,modernization ,act4  
#b4 ,increase in amount of accrued      
benefit which a pension plan may        
distribute after employee separation    
7a7 ,amendments to ,internal ,revenue   
,code of #aihf  7#a7 ,in general        
,section #daa7;a77#aa77;,a7 of the      
,internal ,revenue ,code of #aihf is    

amended by striking #e1jjj and inserting
 #h1jjj4  7#b7 ,inflation adjustment    
,section #daa7;a77#aa7 of such ,code is 
amended by adding at the end the        
following new subparagraph3  7,e7       
,inflation adjustment ,in the case of   
any plan year beginning after #bjai1 the
 ,secretary shall adjust the #h1jjj     
amount in subparagraph 7,a7 at the same 
time and in the same manner as under    
section #dae7;d71 except that the base  
period shall be the calendar quarter    
beginning ,july #a1 #bjah1 and any      
increase under this subparagraph which  
is not a multiple of #ej shall be       
rounded to the next lowest multiple of  
#ej4  4  7#c7 ,conforming amendments    
7,a7 ,section #dja7;a77#ca77;,b77ii7 of 
such ,code is amended by striking #e1jjj
 and inserting the dollar limit in      
effect under section #daa7;a77#aa77;,a74
  7,b7 ,section #daa7;a77#g77;,b77i7 of 
such ,code is amended by striking under 
section #daa7;a77#aa77;,a7 and inserting
 in effect under paragraph 7#aa77;,a74  

7,c7 ,section #deg7;e77#i77;,a77i7 of   
such ,code is amended by inserting in   
effect after the dollar limit4  7b7     
,amendments to the ,employee ,retirement
 ,income ,security ,act of #aigd  7#a7  
,in general ,section #bjc7;e77#a7 of the
 ,employee ,retirement ,income ,security
 ,act of #aigd 7#bi ,u4,s4,c4           
#ajec7;e77#a77 is amended by striking   
#e1jjj and inserting #h1jjj4  7#b7      
,inflation adjustment ,section #bjc7;e7 
of such ,act 7#bi ,u4,s4,c4 #ajec7;e77  
is amended by adding at the end the     
following new paragraph3  7#e7 ,in the  
case of any plan year beginning after   
#bjai1 the ,secretary of the ,treasury  
shall adjust the #h1jjj amount in       
paragraph 7#a7 at the same time and in  
the same manner as under section        
#dae7;d7 of the ,internal ,revenue ,code
 of #aihf1 except that the base period  
shall be the calendar quarter beginning 
,july #a1 #bjah1 and any increase under 
this paragraph which is not a multiple  
of #ej shall be rounded to the next     

lowest multiple of #ej4  4  7#c7        
,conforming amendment ,section          
#bjd7;d77#a7 of such ,act 7#bi ,u4,s4,c4
 #ajed7;d77#a77 is amended by inserting 
in effect after the dollar limit4  7c7  
,effective date ,the amendments made by 
this section shall apply to plan years  
beginning after the date of the         
enactment of this ,act4