A bill to amend the Internal Revenue Code of 1954 to provide that certain distributions from pension funds will be exempt from tax if such distributions are contributed to qualified retirement plans.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income distributions from pension funds where the distribution is made because the beneficiary is separated from service before the age of 50 or the earliest retirement age in the plan, provided that: (1) the distributions are made in mandatory and substantially equal installments during a period more than one year and less than ten taxable years long; and (2) the employee transfers all the distribution to another qualified pension plan.…