Sec. 303. Availability of distribution options
143 words·~1 min read·
/bill/113/hr/2117/ih/section-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
By the date that is one year after the date of enactment of this Act, the Secretary of the Treasury shall issue final regulations under which it is clarified that any specified age or service condition (or combination of age and service conditions) with respect to a lifetime income investment (as defined in section 401(a)(38)(B)(ii)) under a defined contribution plan shall be disregarded in determining whether such lifetime income investment is currently available to an employee for purposes of Treasury Regulation section 1.401(a)(4)–4(b) (or any successor provision).
As of the date of enactment of this Act, the Secretary of the Treasury shall administer and enforce the law in accordance with subsection
(a)with respect to plan years beginning before, on, or after the date of enactment of this Act. This section shall take effect as of the date of enactment of this Act.