I 
111TH CONGRESS 
1ST SESSION H. R. 4361 
To amend the Internal Revenue Code of 1986 to eliminate contribution 
limitations for retirement plans and increase penalties attributable to 
such contributions. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 16, 2009 
Mr. CAMPBELL 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 eliminate 
contribution limitations for retirement plans and increase 
penalties attributable to such contributions. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Save More for Your 
Own Retirement Act of 2009’’. 
SEC. 2. REPEAL OF CONTRIBUTION LIMITATIONS FOR RE-
TIREMENT PLANS. 
(a) IN GENERAL.— 
VerDate Nov 24 2008 
07:35 Dec 18, 2009
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4361.IH
H4361
dcolon on DSK2BSOYB1PROD with BILLS
(1) REPEAL
OF
RETIREMENT
CONTRIBUTION 
DEDUCTION LIMITATIONS.— 
(A) Subsection (b) of section 219 of the 
Internal Revenue Code of 1986 is amended to 
read as follows: 
‘‘(b) MAXIMUM
AMOUNT
OF
DEDUCTION.—The 
amount allowable as a deduction under subsection (a) to 
any individual for any taxable year shall not exceed an 
amount equal to the compensation includible in the indi-
vidual’s gross income for such taxable year.’’. 
(B) Section 219 of the Internal Revenue 
Code of 1986 is amended by striking sub-
sections (c) and (g). 
(2) REPEAL OF ROTH IRA LIMITATION.—Para-
graph (2) of section 408A(c) of such Code is amend-
ed by striking ‘‘the excess (if any) of—’’ and all that 
follows through the end and inserting ‘‘the max-
imum amount allowable as a deduction under section 
219 with respect to such individual for such taxable 
year (computed without regard to subsection (d)(1) 
of such section’’. 
(3) REPEAL OF LIMITATION ON ELECTIVE DE-
FERRALS.—Section 402 of such Code is amended by 
striking subsection (g). 
VerDate Nov 24 2008 
07:35 Dec 18, 2009
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4361.IH
H4361
dcolon on DSK2BSOYB1PROD with BILLS
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to contributions made after De-
cember 31, 2009. 
SEC. 3. INCREASE IN PENALTY FOR EARLY DISTRIBUTIONS 
ATTRIBUTABLE TO INCREASED CONTRIBU-
TIONS. 
(a) IN GENERAL.—Subsection (t) of section 72 of 
such Code is amended by adding at the end the following 
new paragraph: 
‘‘(11) INCREASED
TAX
ON
EARLY
DISTRIBU-
TIONS
ATTRIBUTABLE
TO
INCREASED
CONTRIBU-
TIONS.— 
‘‘(A) IN
GENERAL.—In the case of an 
amount received from a qualified retirement 
plan which is attributable to post-2009 excess 
contribution, paragraph (1) shall be applied by 
substituting ‘25 percent’ for ‘10 percent’ with 
respect to such amount. 
‘‘(B) POST-2009 EXCESS CONTRIBUTION.— 
For purposes of this paragraph, the term ‘post- 
2008 excess contribution’ means any contribu-
tion— 
‘‘(i) made to a qualified retirement 
plan for any period beginning after Decem-
ber 31, 2009, and 
VerDate Nov 24 2008 
07:35 Dec 18, 2009
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4361.IH
H4361
dcolon on DSK2BSOYB1PROD with BILLS