[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4978 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 4978

To amend the Internal Revenue Code of 1986 to increase the age at which 
distributions must commence from certain retirement plans from 70\1/2\ 
                                 to 80.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2002

   Mr. Paul introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to increase the age at which 
distributions must commence from certain retirement plans from 70\1/2\ 
                                 to 80.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Senior IRA and Pension Preservation 
Act of 2002''.

SEC. 2. AGE FOR BEGINNING MANDATORY DISTRIBUTIONS INCREASED TO 80.

    (a) Qualified Pension Plans.--Subparagraphs (B)(iv) and (C) of 
section 401(a)(9) of the Internal Revenue Code of 1986 (relating to 
required distributions) are each amended by striking ``70\1/2\'' each 
place it appears and inserting ``80''.
    (b) Individual Retirement Plans.--
            (1) Paragraph (1) of section 219(d) of such Code is 
        amended--
                    (A) by striking ``70\1/2\'' in the text and 
                inserting ``80'', and
                    (B) by striking ``70\1/2\'' in the heading and 
                inserting ``80''.
            (2) Subsection (b) of section 408 of such Code is amended 
        by striking ``70\1/2\'' and inserting ``80''.
    (c) Roth IRA's.--Paragraph (4) of section 408A(c) of such Code is 
amended--
            (1) by striking ``70\1/2\'' in the text and inserting 
        ``80'', and
            (2) by striking ``70\1/2\'' in the heading and inserting 
        ``80''.
    (d) Section 457  Plans.--Clause (i) of section 457(d)(1)(A) of such 
Code is amended by striking ``70\1/2\'' and inserting ``80''.
    (e) Effective Date.--The amendments made by this section shall 
apply to distributions after the date of the enactment of this Act.
                                 <all>