Retirement Simplification and Clarity Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10467 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10467 To amend the Internal Revenue Code of 1986 to provide for in-service rollovers for individual retirement annuity purchases. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES December 18, 2024 Mr. Panetta (for himself and Mr. LaHood) 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 provide for in-service rollovers for individual retirement annuity purchases. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Retirement Simplification and Clarity Act''. SEC. 2. IN-SERVICE ROLLOVERS FOR ANNUITY PURCHASES. (a) In General.--Section 401(k) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(17) Special rule for pre-retirement rollover.-- Notwithsta…