II 

116TH CONGRESS 

2D SESSION S. 4297 

To allow participants in certain retirement plans to delay their 2020 

contributions to such plans to 2021 or 2022, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JULY 23, 2020 

Mr. CRUZ (for himself, Mr. TILLIS, Mr. PERDUE, and Mrs. LOEFFLER) introduced the following bill; which was read twice and referred to the Committee on Finance 

A BILL 

To allow participants in certain retirement plans to delay 

their 2020 contributions to such plans to 2021 or 2022, 

and for other purposes. 

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 ‘‘Addressing Missed5 savings Opportunities for Retirement due to an Epidemic 

6 Act’’ or the ‘‘AMORE Act’’. 


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1 SEC. 2. ALLOWANCE OF DELAY IN MAKING 2020 RETIRE2 MENT CONTRIBUTIONS. 

3 (a) IN GENERAL.—An eligible participant in one or 

4 more applicable retirement plans may make additional 

5 contributions to such plans for any taxable year beginning 

6 in 2021 or 2022 in an aggregate amount not exceeding 

7 the participant’s unused 2020 contribution amount. 

8 (b) TREATMENT OF CONTRIBUTIONS AND PLANS.— 

9 For purposes of the Internal Revenue Code of 1986— 

10 (1) TREATMENT OF CONTRIBUTIONS.—In the 

11 case of any additional contribution to which sub12 section (a) applies— 

13 (A) such contribution shall not, with re14 spect to such taxable year— 

15 (i) be subject to any otherwise appli16 cable limitation contained in sections 

17 401(a)(30), 402(h), 408, and 415(c), or 

18 (ii) be taken into account in applying 

19 such limitations to other contributions or 

20 benefits under such plan or any other such 

21 plan, and 

22 (B) except as provided in paragraph 

23 (2)(B), such plan shall not be treated as failing 

24 to meet the requirements of section 401(a)(4), 

25 401(k)(3), 401(k)(11), 403(b)(12), 408(k), 


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1 410(b), or 416 by reason of the making (or the 

2 right to make) such contribution. 

3 (2) TREATMENT OF APPLICABLE PLANS.— 

4 (A) IN GENERAL.—An applicable employer 

5 plan shall not be treated as failing to meet any 

6 requirement of such Code, or failing to be oper7 ated in accordance with the terms of the plan, 

8 solely because the plan— 

9 (i) permits an eligible participant to 

10 make additional contributions described in 

11 subsection (a) for any plan year, or 

12 (ii) does not make any matching con13 tribution (as defined in section 401(m)(4) 

14 of such Code) with respect to additional 

15 contributions described in subsection (a) 

16 for any plan year. 

17 (B) NONDISCRIMINATION REQUIRE18 MENT.—The rules of section 414(v)(4) of such 

19 Code shall apply for purposes of this section. 

20 (c) DEFINITIONS.—For purposes of this section— 

21 (1) APPLICABLE RETIREMENT PLAN.—The 

22 term ‘‘applicable retirement plan’’ means any plan— 

23 (A) which is— 

24 (i) a plan, arrangement, or contract to 

25 which an elective deferral (as defined in 


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1 section 401(g)(3) of the Internal Revenue 

2 Code of 1986) may be made, or 

3 (ii) an individual retirement plan (as 

4 defined in section 7701(a)(37) of such 

5 Code), and 

6 (B) which allows additional contributions 

7 under this section to be made to such plan. 

8 (2) ELIGIBLE PARTICIPANT.—The term ‘‘eligi9 ble participant’’ means, with respect to any taxable 

10 year beginning in 2021 or 2022, a participant in a 

11 plan— 

12 (A) who has an unused 2020 contribution 

13 amount, and 

14 (B) with respect to whom no other elective 

15 deferrals (or in the case of an individual retire16 ment plan, no other contributions) may, without 

17 regard to this section, be made to the plan for 

18 such taxable year by reason of any applicable 

19 limitation described in subsection (b)(1)(A)(i) 

20 or any comparable limitation or restriction con21 tained in the terms of the plan. 

22 In determining whether a participant is an eligible 

23 participant, the administrator of an applicable re24 tirement plan may rely on a participant’s certifiVerDate Sep 11 2014 00:03 Aug 09, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S4297.IS S4297

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1 cation that the participant satisfies the requirements 

2 of this paragraph. 

3 (3) UNUSED 2020 CONTRIBUTION AMOUNT.— 

4 (A) IN GENERAL.—The term ‘‘unused 

5 2020 contribution amount’’ means, with respect 

6 to any applicable participant, the excess (if any) 

7 for the participant’s last taxable year beginning 

8 in 2020 of— 

9 (i) in the case of— 

10 (I) the applicable retirement 

11 plans described in paragraph (1)(A)(i) 

12 of such participant, the applicable lim13 itations described in subsection 

14 (b)(1)(A)(i) on aggregate contribu15 tions to such plans for such taxable 

16 year, and 

17 (II) the individual retirement 

18 plans of such participant, the applica19 ble limitations described in subsection 

20 (b)(1)(A)(i) on aggregate contribu21 tions to such plans for such taxable 

22 year, over 

23 (ii) the aggregate contributions to 

24 such applicable retirement plans or indi25 vidual retirement plans, whichever is appliVerDate Sep 11 2014 00:03 Aug 09, 2020 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S4297.IS S4297

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1 cable, for such taxable year (other than 

2 rollover contributions not taken into ac3 count in applying such limitations under 

4 such Code). 

5 (B) REDUCTIONS FOR PREVIOUSLY USED

6 AMOUNTS.—The unused 2020 contribution 

7 amount for any taxable year beginning in 2021 

8 or 2022 shall be reduced by the portion of such 

9 amount taken into account under this section 

10 for all preceding taxable years. 

11 (C) SECRETARIAL ASSISTANCE.—The Sec12 retary of the Treasury (or the Secretary’s dele13 gate) shall include, with returns of Federal in14 dividual income tax (or accompanying forms or 

15 instructions) for taxable years beginning in 

16 2020 and 2021, forms or other materials which 

17 will assist participants in simply computing 

18 their unused 2020 contribution amount for each 

19 taxable year beginning in 2021 or 2022. 

20 (d) EFFECTIVE DATES.— 

21 (1) IN GENERAL.—This section shall apply for 

22 years beginning after December 31, 2020. 

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 plan or contract amendment— 

3 (i) such plan or contract shall not fail 

4 to be treated as being operated in accord5 ance with the terms of the plan during the 

6 period described in subparagraph (B)(ii) 

7 solely because the plan operates in accord8 ance with this section, and 

9 (ii) except as provided by the Sec10 retary of the Treasury (or the Secretary’s 

11 delegate), such plan or contract shall not 

12 fail to meet the requirements of section 

13 411(d)(6) of the Internal Revenue Code of 

14 1986 and section 204(g) of the Employee 

15 Retirement Income Security Act of 1974 

16 by reason of such amendment. 

17 (B) AMENDMENTS TO WHICH PARAGRAPH

18 APPLIES.— 

19 (i) IN GENERAL.—This paragraph 

20 shall apply to any amendment to any plan 

21 or annuity contract which— 

22 (I) is made pursuant to the pro23 visions of this section, and 


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1 (II) is made on or before the last 

2 day of the first plan year beginning 

3 on or after January 1, 2022. 

4 In the case of a governmental plan, sub5 clause (II) shall be applied by substituting 

6 ‘‘2024’’ for ‘‘2022’’. 

7 (ii) CONDITIONS.—This paragraph 

8 shall not apply to any amendment unless 

9 during the period beginning on the effec10 tive date of the amendment and ending on 

11 December 31, 2022, the plan or contract is 

12 operated as if such plan or contract 

13 amendment were in effect. 

Æ 


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