H.R. 424

Protecting Senior's Nest Egg Act of 2009

Latest
Raw Text PDF XML

I

111th CONGRESS

1st Session

H. R. 424

IN THE HOUSE OF REPRESENTATIVES

January 9, 2009

Mr. Tim Murphy of Pennsylvania 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 extend the temporary waiver of the required minimum distribution rules for certain retirement plans and accounts for an additional year.

1.

Short title

This Act may be cited as the Protecting Senior’s Nest Egg Act of 2009.

2.

Extension of the temporary waiver of required minimum distribution rules for certain retirement plans and accounts

(a)

In general

Clause (i) of section 409(a)(9)(H) of the Internal Revenue Code of 1986 (relating to general rule for temporary waiver of minimum required distribution), as added by the Worker, Retiree, and Employer Recovery Act of 2008, is amended by striking calendar year 2009 and inserting calendar years 2009 and 2010.

(b)

Conforming amendments

(1)

Section 409(a)(9)(H)(ii)(I) of such Code is amended by striking 2009 and inserting 2010.

(2)

Section 402(c)(4) of such Code is amended—

(A)

by striking 2009 the first place it appears and inserting 2009 or 2010, and

(B)

by striking 2009, the second place it appears and inserting 2009 or 2010 (as the case may be),.

(3)

Clause (ii) of section 201(c)(2)(B) of the Worker, Retiree, and Employer Recovery Act of 2008 is amended by striking 2009 and inserting 2010.

(c)

Effective date

The amendments made by this section shall take effect as if included in the provisions of section 201 of the Worker, Retiree, and Employer Recovery Act of 2008.