A bill to amend the Internal Revenue Code of 1954 to provide for the tax-free rollover of certain amounts distributed from pension plans on account of terminations, partial terminations, and the complete discontinuance of contributions under such plans.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow employees who receive the balance of their entitlement under a discontinued pension or annuity plan within the taxable year from the date of such discontinuance to reinvest the proceeds therefrom in a new pension plan without incurring income tax liability.…