To amend the Internal Revenue Code of 1986 to allow a tax-free distribution from a qualified retirement plan to the extent that the distribution is contributed for charitable purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a tax-free distribution from a qualified retirement plan to the extent that the distribution is contributed for charitable purposes. Declares that a trust forming part of a profit-sharing or pension plan shall not be treated as failing to constitute a qualified trust merely because the stock bonus, profit-sharing, or pension plan of which it is a part makes one or more qualified charitable distributions. Excludes from the gross income of a plan participant the amount of any qualified charitable distribution (regardless of whether such distribution is made with respect to the participant's charitable pledge) from a stock bonus, profit-sharing, or pension plan: (1) to an organization to which deductible charitable contributions are allowed; (2) to a charitable remainder annuity trust or a charitable remainder unitrust; (3) to a pooled income fund; or (4) for the issuance of a charitable gift annuity. Allows such income exclusion only if no person holds an income interest in the amounts in the trust, fund, or annuity attributable to such distribution other than one or more of the following: (1) the individual for whose benefit amounts in the s…