[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 1959 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                S. 1959

  To amend the Internal Revenue Code of 1986 to increase the age for 
  required mandatory distributions from retirement accounts, and for 
                            other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              June 7, 2021

  Mr. Kennedy introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to increase the age for 
  required mandatory distributions from retirement accounts, and for 
                            other purposes.

    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 ``Keeping Your Retirement Act of 
2021''.

SEC. 2. INCREASE IN AGE FOR REQUIRED BEGINNING DATE FOR MANDATORY 
              DISTRIBUTIONS.

    (a) In General.--Section 401(a)(9)(C)(i)(I) of the Internal Revenue 
Code of 1986 is amended by striking ``age 72'' and inserting ``age 
75''.
    (b) Spouse Beneficiaries; Special Rule for Owners.--Subparagraphs 
(B)(iv)(I) and (C)(ii)(I) of section 401(a)(9) of the Internal Revenue 
Code of 1986 are each amended by striking ``age 72'' and inserting 
``age 75''.
    (c) Conforming Amendment.--The last sentence of section 408(b) of 
the Internal Revenue Code of 1986 is amended by striking ``age 72'' and 
inserting ``age 75''.
    (d) Effective Date.--The amendments made by this section shall 
apply to distributions required to be made after December 31, 2021, 
with respect to individuals who attain age 72 after such date.
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