A bill to amend the Internal Revenue Code of 1954 to provide a retirement savings deduction for persons covered by pension plans.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction for cash contributions made by an employee to a pension plan in which he is a qualified participant. Limits the amount of such deduction to the lesser of ten percent of an employee's gross compensation for a taxable year or $200.…