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.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow penalty-free distributions, on account of the death or disability of the participant's spouse, from qualified retirement plans, including: (1) employee annuities purchased by charitable organizations or public schools; (2) custodial accounts for regulated investment company stock; and (3) Roth individual retirement accounts (Roth IRAs).…