,,ii  #aag? ,,congress  #a/ ,session    
,s4 #ahgj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bg1 #bjba,mr4    
,lank=d 7= himself & ,mr4 ,b5net7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide =      
p5alty-free )drawals f retirem5t acc\nts
 = c]ta9 em]g5cy exp5ses1 & = o!r       
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,enhanc+ ,em]g5cy &        
,retirem5t ,sav+s ,act ( #bjba4  #b4    
,)drawals = c]ta9 em]g5cy exp5ses  7a7  
,9 g5]al ,p>agraph 7#b7 ( section #gb7t7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by add+ at ! end ! foll[+ new     
subp>agraph3  7,i7 ,di/ributions = c]ta9
 em]g5cy exp5ses  7i7 ,9 g5]al ,any     
em]g5cy p]sonal exp5se di/ribution4     
7ii7 ,annual limitation ,n m ?an #a     
di/ribution p] cal5d> ye> may be treat$ 
z an em]g5cy p]sonal exp5se di/ribution 
by any individual4  7iii7 ,doll>        
limitation ,! am\nt :i* may be treat$ z 

an em]g5cy p]sonal exp5se di/ribution by
 any individual 9 any cal5d> ye> %all n 
exce$ ! less] ( #a1jjj or an am\nt equal
 to ! excess (-- 7,i7 ! individual's    
total non=feitable accru$ b5efit "u !   
plan 7! individual's total int]e/ 9 !   
plan 9 ! case ( an individual retirem5t 
plan71 det]m9$ z ( ! date ( ea* su*     
di/ribution1 ov]  7,,ii7 #a1jjj4  7iv7  
,em]g5cy p]sonal exp5se di/ribution ,=  
purposes ( ?is subp>agraph1 ! t]m       
em]g5cy p]sonal exp5se di/ribution means
 any di/ribution f an applicable        
eligible retirem5t plan 7z def9$ 9      
subp>agraph 7,h77vi77,i77 to an         
individual = purposes ( meet+           
un=eseeable or imm$iate f9ancial ne$s   
relat+ to necess>y p]sonal or family    
em]g5cy exp5ses4 ,! adm9i/rator ( an    
applicable eligible retirem5t plan may  
rely on an employee's c]tification t !  
employee satisfies ! conditions ( !     
prec$+ s5t5ce 9 det]m9+ :e!r any        
di/ribution is an em]g5cy p]sonal exp5se
 di/ribution4  7v7 ,treatm5t ( plan     

di/ributions ,if a di/ribution to an    
individual w\ld 7)\t reg>d to clause    
7iii77 be an em]g5cy p]sonal exp5se     
di/ribution1 a plan %all n be treat$ z  
fail+ to meet any requirem5t ( ?is title
 m]ely because ! plan treats !          
di/ribution z an em]g5cy p]sonal exp5se 
di/ribution1 unless ! aggregate am\nt ( 
su* di/ributions f all plans ma9ta9$ by 
! employ] 7& any memb] ( any controll$  
gr\p :i* includes ! employ]1 det]m9$ z  
provid$ 9 subp>agraph 7,h77iv77,,ii77 to
 su* individual exce$s ! limitation     
det]m9$ "u clause 7iii74  7vi7 ,am\nt   
di/ribut$ may be repaid  7,i7 ,9 g5]al  
,any individual :o receives an em]g5cy  
p]sonal exp5se di/ribution may1 at any  
"t dur+ ! #c-ye> p]iod beg9n+ on ! day  
aft] ! date on :i* su* di/ribution 0    
receiv$1 make "o or m contributions 9 an
 aggregate am\nt n to exce$ ! am\nt (   
su* di/ribution to an applicable        
eligible retirem5t plan ( :i* su*       
individual is a b5efici>y & to :i* a    
rollov] contribution ( su* di/ribution  

c\ld be made "u section #djb7;c71       
#djc7;a77#d71 #djc7;b77#h71             
#djh7;d77#c71 or #deg7;e77#af71 z ! case
 may be4  7,,ii7 ,limitation on         
contributions to applicable eligible    
retirem5t plans o!r ?an ,i,r,as ,!      
aggregate am\nt ( contributions made by 
an individual "u subclause 7,i7 to any  
applicable eligible retirem5t plan :i*  
is n an individual retirem5t plan %all n
 exce$ ! aggregate am\nt ( em]g5cy      
p]sonal exp5se di/ributions :i* are made
 f su* plan to su* individual4          
,subclause 7,i7 %all n apply to         
contributions to any applicable eligible
 retirem5t plan :i* is n an individual  
retirem5t plan unless ! individual is   
eligible to make contributions 7o!r ?an 
^? describ$ 9 subclause 7,i77 to su*    
applicable eligible retirem5t plan4     
7,,iii7 ,treatm5t ( repaym5ts (         
di/ributions f applicable eligible      
retirem5t plans o!r ?an ,i,r,as ,if a   
contribution is made "u subclause 7,i7 )
 respect to an em]g5cy p]sonal exp5se   

di/ribution f an applicable eligible    
retirem5t plan o!r ?an an individual    
retirem5t plan1 !n ! taxpay] %all1 to ! 
ext5t ( ! am\nt ( ! contribution1 be    
treat$ z hav+ receiv$ su* di/ribution 9 
an eligible rollov] di/ribution 7z def9$
 9 section #djb7;c77#d77 & z hav+       
transf]r$ ! am\nt to ! applicable       
eligible retirem5t plan 9 a direct      
tru/ee to tru/ee transf] )9 #fj days ( !
 di/ribution4  7,,iv7 ,treatm5t (       
repaym5ts = di/ributions f ,i,r,as ,if a
 contribution is made "u subclause 7,i7 
) respect to an em]g5cy p]sonal exp5se  
di/ribution f an individual retirem5t   
plan1 !n1 to ! ext5t ( ! am\nt ( !      
contribution1 su* di/ribution %all be   
treat$ z a di/ribution describ$ 9       
section #djh7;d77#c7 & z hav+ be5       
transf]r$ to ! applicable eligible      
retirem5t plan 9 a direct tru/ee to     
tru/ee transf] )9 #fj days ( !          
di/ribution4  7vii7 ,limitation on      
subsequ5t di/ributions ,if a di/ribution
 is treat$ z an em]g5cy p]sonal exp5se  

di/ribution 9 any cal5d> ye> ) respect  
to a plan1 no am\nt may be treat$ z su* 
a di/ribution 9 any subsequ5t cal5d> ye>
 ) respect to su* plan unless-- 7,i7 su*
 previ\s di/ribution is fully repaid    
pursuant to clause 7vi7 to su* plan1 or 
7,,ii7 ! aggregate ( ! elective def]rals
 & employee contributions to ! plan 7!  
total am\nts contribut$ to ! plan 9 !   
case ( an individual retirem5t plan7    
subsequ5t to su* previ\s di/ribution is 
at lea/ equal to ! am\nt ( su* previ\s  
di/ribution :i* has n be5 s repaid4     
7viii7 ,special rules ,rules simil> to !
 rules ( subclauses 7,,ii7 & 7,,iv7 (   
subp>agraph 7,h77vi7 %all apply to any  
em]g5cy p]sonal exp5se di/ribution4  4  
7b7 ,effective date ,! am5dm5ts made by 
?is section %all apply to di/ributions  
made aft] ,decemb] #ca1 #bjba4