[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 64 Introduced in House (IH)]
108th CONGRESS
1st Session
H. R. 64
To amend the Internal Revenue Code of 1986 to allow penalty-free
distributions from qualified retirement plans on account of the death
or disability of the participant's spouse.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 7, 2003
Mrs. Emerson 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 allow penalty-free
distributions from qualified retirement plans on account of the death
or disability of the participant's spouse.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. DISTRIBUTIONS FROM QUALIFIED RETIREMENT PLANS ON ACCOUNT OF
DEATH OR DISABILITY OF PARTICIPANT'S SPOUSE.
(a) Distributions Permitted.--
(1) 401(k) Plans.--Subclause (I) of section 401(k)(2)(B)(i)
of the Internal Revenue Code of 1986 (defining qualified cash
or deferred arrangement) is amended by striking ``, death or
disability'' and inserting ``or the death or disability of the
participant or the participant's spouse''.
(2) 403(b) Annuities.--
(A) Clause (ii) of section 403(b)(7)(A) of such
Code is amended by inserting ``(or, if earlier, the
employee's spouse dies or becomes disabled (as do
defined)'' after ``section 72(m)(7))''.
(B) Subparagraph (A) of section 403(b)(11) of such
Code is amended by inserting before the comma at the
end ``or when the spouse of the employee dies or
becomes disabled (as so defined)''.
(3) Roth iras.--Subparagraph (A) of section 408A(d)(2) of
such Code is amended--
(A) by inserting before the comma at the end of
clause (ii) ``or made to the individual on or after the
death of the individual's spouse'', and
(B) by striking clause (iii) and inserting the
following new clause:
``(iii) attributable to the disability
(within the meaning of section 72(m)(7)) of the
individual or the individual's spouse, or''.
(b) Penalty-Free Withdrawals.--Subparagraph (A) of section 72(t)(2)
of such Code is amended--
(1) by inserting before the comma at the end of clause (ii)
``or made to the employee on or after the death of the
employee's spouse'', and
(2) by striking clause (iii) and inserting the following
new clause:
``(iii) attributable to the disability
(within the meaning of subsection (m)(7)) of
the employee or the employee's spouse,''.
(c) Effective Date.--The amendments made by this section shall
apply to distributions after December 31, 2001.
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