[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7315 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 7315

 To suspend for 2008 and 2009 the required minimum distribution rules 
                for certain defined contribution plans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 9, 2008

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

_______________________________________________________________________

                                 A BILL


 
 To suspend for 2008 and 2009 the required minimum distribution rules 
                for certain defined contribution plans.

    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 ``Retiree Relief Act of 2008''.

SEC. 2. SUSPENSION OF MINIMUM DISTRIBUTION REQUIREMENTS.

    (a) In General.--In the case of an eligible defined contribution 
plan of an individual, sections 401(a)(9), 404(a)(2), 403(b)(10), 
408(a)(6), 408(b)(3), and 457(d)(2) of the Internal Revenue Code of 
1986 shall not apply with respect to such individual for any year 
during the suspension period.
    (b) Suspension Period.--For purposes of this section, the term 
``suspension period'' means the period beginning on January 1, 2008, 
and ending on December 31, 2009.
    (c) Eligible Defined Contribution Plan.--For purposes of this 
section, the term ``eligible defined contribution plan'' means--
            (1) a defined contribution plan (within the meaning of 
        section 414(i) of such Code) which is--
                    (A) an employee's trust described in section 401(a) 
                of such Code which is exempt from tax under section 
                501(a) of such Code,
                    (B) an annuity plan described in section 403(a) of 
                such Code,
                    (C) an annuity contract described in section 403(b) 
                of such Code, and
                    (D) an eligible deferred compensation plan 
                described in section 457(b) of such Code which is 
                maintained by an eligible employer described in section 
                457(e)(1)(A) of such Code, and
            (2) an individual retirement plan (as defined in section 
        7701(a)(37) of such Code).
    (d) Special Rules.--
            (1) Required beginning date during suspension period.--The 
        required beginning date with respect to any individual under 
        section 401(a)(9) of such Code shall be determined without 
        regard to this section for purposes of applying sections 
        401(a)(9), 404(a)(2), 403(b)(10), 408(a)(6), 408(b)(3), and 
        457(d) of such Code for calendar years after 2009.
            (2) Exception for 5-year rule.--In the case of a 
        distribution required under section 401(a)(9)(B)(ii) of such 
        Code, subsection (a) shall not apply.
            (3) Exemption of distributions during suspension period 
        from trustee transfer and withholding rules.--For purposes of 
        sections 401(a)(31), 402(f), and 3405 of such Code, any 
        distribution during the suspension period which, but for 
        subsection (a), would have been a required distribution under 
        section 401(a)(9) of such Code shall not be treated as an 
        eligible rollover distribution.
    (e) Provisions Relating to Plan Amendments.--
            (1) In general.--If this subsection applies to any plan or 
        annuity contract, such plan or contract shall be treated as 
        being operated in accordance with the terms of the plan during 
        the period described in paragraph (2)(B)(i).
            (2) Amendments to which subsection applies.--
                    (A) In general.--This subsection shall apply to any 
                amendment to any plan or annuity contract which is 
                made--
                            (i) pursuant to this section or pursuant to 
                        any regulation issued by the Secretary of the 
                        Treasury to carry out this section, and
                            (ii) on or before the last day of the first 
                        plan year beginning on or after January 1, 
                        2009.
                    (B) Conditions.--This subsection shall not apply to 
                any amendment unless during the period beginning on the 
                date such amendment takes effect and ending on December 
                31, 2009 (or, if earlier, the date the plan or contract 
                amendment is adopted), the plan or contract is operated 
                as if such plan or contract amendment were in effect.
    (f) Effective Date.--
            (1) In general.--This section shall take effect on the date 
        of the enactment of this Act.
            (2) Recontribution of distributions before date of 
        enactment.--
                    (A) In general.--Any individual who receives a 
                payment or distribution during the period beginning on 
                January 1, 2008, and ending on the date of the 
                enactment of this Act from a plan to which subsection 
                (a) or (c) of this section applies may, before the end 
                of the suspension period, make one or more 
                contributions in an aggregate amount not to exceed the 
                amount of such payments or distributions to an eligible 
                defined contribution plan of which such individual is a 
                beneficiary and to which a rollover contribution of 
                such distribution could be made under section 402(c), 
                403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16) of such 
                Code, as the case may be.
                    (B) Treatment of repayments of distributions from 
                eligible retirement plans other than iras.--For 
                purposes of the Internal Revenue Code of 1986, if a 
                contribution is made pursuant to subparagraph (A) to an 
                eligible defined contribution plan other than an 
                individual retirement plan (as defined by section 
                7701(a)(37)), then the taxpayer shall, to the extent of 
                the amount of the contribution, be treated as having 
                received such payments or distributions in an eligible 
                rollover distribution (as defined in section 402(c)(4) 
                of such Code) and as having transferred the amount to 
                the eligible defined contribution plan in a direct 
                trustee to trustee transfer within 60 days of the 
                distribution.
                    (C) Treatment of repayments for distributions from 
                iras.--For purposes of the Internal Revenue Code of 
                1986, if a contribution is made pursuant to 
                subparagraph (A) to an individual retirement plan (as 
                defined by section 7701(a)(37) of such Code), then, to 
                the extent of the amount of the contribution, such 
                payments or distributions shall be treated as a 
                distribution described in section 408(d)(3) of such 
                Code and as having been transferred to the individual 
                retirement plan in a direct trustee to trustee transfer 
                within 60 days of the distribution.
                                 <all>