I 

114TH CONGRESS 

2D SESSION H. R. 4357 

To amend the Internal Revenue Code of 1986 to extend the waiver of 

required minimum distribution rules for certain retirement plans and 

accounts for 2016. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 8, 2016 

Mr. SENSENBRENNER 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 extend 

the waiver of required minimum distribution rules for 

certain retirement plans and accounts for 2016. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Volatility And Losses 

5 Undermining Earnings Act of 2016’’. 


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1 SEC. 2. EXTENSION OF WAIVER OF REQUIRED MINIMUM 

2 DISTRIBUTION RULES FOR CERTAIN RETIRE3 MENT PLANS AND ACCOUNTS. 

4 (a) IN GENERAL.—Section 401(a)(9) of the Internal 

5 Revenue Code of 1986 is amended by adding at the end 

6 the following: 

7 ‘‘(H) TEMPORARY WAIVER OF MINIMUM

8 REQUIRED DISTRIBUTION.— 

9 ‘‘(i) IN GENERAL.—The requirements 

10 of this paragraph shall not apply for cal11 endar year 2016 to— 

12 ‘‘(I) a defined contribution plan 

13 which is described in this subsection 

14 or in section 403(a) or 403(b), 

15 ‘‘(II) a defined contribution plan 

16 which is an eligible deferred com17 pensation plan described in section 

18 457(b) but only if such plan is main19 tained by an employer described in 

20 section 457(e)(1)(A), or 

21 ‘‘(III) an individual retirement 

22 plan. 

23 ‘‘(ii) SPECIAL RULES REGARDING

24 WAIVER PERIOD.—For purposes of this 

25 paragraph— 


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1 ‘‘(I) the required beginning date 

2 with respect to any individual shall be 

3 determined without regard to this 

4 subparagraph for purposes of applying 

5 this paragraph for calendar years 

6 after 2015, and 

7 ‘‘(II) if clause (ii) of subpara8 graph (B) applies, the 5-year period 

9 described in such clause shall be de10 termined without regard to calendar 

11 year 2016.’’. 

12 (b) CONFORMING AMENDMENTS.—The last sentence 

13 of section 402(c)(4) of such Code is amended— 

14 (1) by striking ‘‘distribution during 2009’’ and 

15 inserting ‘‘distribution during calendar year 2009 or 

16 2016’’, and 

17 (2) by striking ‘‘applied during 2009’’ and in18 serting ‘‘applied during such calendar year’’. 

19 (c) EFFECTIVE DATE.— 

20 (1) IN GENERAL.—The amendments made by 

21 this section shall apply for calendar years beginning 

22 after December 31, 2015. 

23 (2) PROVISIONS RELATING TO PLAN OR CON24 TRACT AMENDMENTS.— 


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1 (A) IN GENERAL.—If this paragraph ap2 plies to any pension plan or contract amend3 ment, such pension plan or contract shall not 

4 fail to be treated as being operated in accord5 ance with the terms of the plan during the pe6 riod described in subparagraph (B)(ii) solely be7 cause the plan operates in accordance with this 

8 section. 

9 (B) AMENDMENTS TO WHICH PARAGRAPH

10 APPLIES.— 

11 (i) IN GENERAL.—This paragraph 

12 shall apply to any amendment to any pen13 sion plan or annuity contract which— 

14 (I) is made pursuant to the 

15 amendments made by this section, 

16 and 

17 (II) is made on or before the last 

18 day of the first plan year beginning 

19 on or after January 1, 2018. 

20 In the case of a governmental plan, sub21 clause (II) shall be applied by substituting 

22 ‘‘2019’’ for ‘‘2018’’. 

23 (ii) CONDITIONS.—This paragraph 

24 shall not apply to any amendment unless 

25 during the period beginning on the effecVerDate Sep 11 2014 21:50 Jan 08, 2016 Jkt 059200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H4357.IH H4357

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1 tive date of the amendment and ending on 

2 December 31, 2016, the plan or contract is 

3 operated as if such plan or contract 

4 amendment were in effect. 

Æ 


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