IB 
Union Calendar No. 210 
117TH CONGRESS 
2D SESSION 
H. R. 2954 
[Report No. 117–283, Part I] 
To increase retirement savings, simplify and clarify retirement plan rules, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 4, 2021 
Mr. NEAL (for himself and Mr. BRADY) introduced the following bill; which 
was referred to the Committee on Ways and Means, and in addition to 
the Committees on Financial Services, and Education and Labor, for a 
period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
MARCH 29, 2022 
Additional sponsors: Mr. DOGGETT, Mr. THOMPSON of California, Mr. LAR-
SON of Connecticut, Mr. BLUMENAUER, Mr. KIND, Mr. PASCRELL, Mr. 
DANNY K. DAVIS of Illinois, Ms. SA´NCHEZ, Mr. HIGGINS of New York, 
Ms. SEWELL, Ms. DELBENE, Ms. CHU, Ms. MOORE of Wisconsin, Mr. 
KILDEE, Mr. BRENDAN F. BOYLE of Pennsylvania, Mr. EVANS, Mr. 
SCHNEIDER, Mr. SUOZZI, Mr. PANETTA, Mrs. MURPHY of Florida, Mr. 
NUNES, Mr. BUCHANAN, Mr. SMITH of Nebraska, Mr. REED, Mr. KELLY 
of Pennsylvania, Mr. SMITH of Missouri, Mr. RICE of South Carolina, 
Mr. SCHWEIKERT, Mrs. WALORSKI, Mr. LAHOOD, Mr. WENSTRUP, Mr. 
ARRINGTON, Mr. FERGUSON, Mr. ESTES, Mr. HERN, Mr. SMUCKER, 
Mrs. MILLER of West Virginia, Mrs. WAGNER, Mr. COLE, Mr. KUSTOFF, 
Mr. BEYER, Mr. GOMEZ, Mr. HORSFORD, Ms. PLASKETT, Ms. MANNING, 
Mr. PERLMUTTER, Mr. NEGUSE, Ms. ROSS, Mr. HARDER of California, 
Mr. COOPER, Ms. NEWMAN, Mr. LATURNER, Ms. KUSTER, Mrs. LESKO, 
Mr. PRICE of North Carolina, Mr. FITZGERALD, Mr. AMODEI, Mr. 
PAPPAS, Mr. SABLAN, Mr. LAWSON of Florida, Mr. O’HALLERAN, Mr. 
RUPPERSBERGER, Mrs. LURIA, Mr. MANN, Mr. CASE, Mrs. HINSON, Mr. 
MEUSER, Mr. VALADAO, Mr. EMMER, Mr. YOUNG, Mr. KELLER, Mrs. 
TRAHAN, Mr. RESCHENTHALER, Mrs. AXNE, Mr. SEAN PATRICK MALO-
NEY of New York, Mr. MFUME, Mr. OWENS, Mr. ROGERS of Alabama, 
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Mr. MOORE
of Utah, Mr. ROSE, Ms. HERRERA
BEUTLER, Mr. 
FEENSTRA, 
Mr. 
CHABOT, 
Mr. 
ELLZEY, 
Ms. 
SALAZAR, 
Mr. 
KRISHNAMOORTHI, Mr. LANGEVIN, Mr. DAVID SCOTT of Georgia, Mr. 
CICILLINE, Ms. SCHRIER, Mr. CARL, Mr. MURPHY of North Carolina, 
Ms. CLARK of Massachusetts, Mr. MOORE of Alabama, Ms. TITUS, Mr. 
LUCAS, Ms. VAN DUYNE, Ms. CRAIG, Ms. ADAMS, Mr. COURTNEY, Mr. 
HILL, and Ms. WILLIAMS of Georgia 
MARCH 29, 2022 
Reported from the Committee on Ways and Means with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
MARCH 29, 2022 
Committees on Financial Services and Education and Labor discharged; com-
mitted to the Committee of the Whole House on the State of the Union 
and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on May 4, 2021] 
A BILL 
To increase retirement savings, simplify and clarify 
retirement plan rules, and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the ‘‘Se-
curing a Strong Retirement Act of 2021’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
TITLE I—EXPANDING COVERAGE AND INCREASING RETIREMENT 
SAVINGS 
Sec. 101. Expanding automatic enrollment in retirement plans. 
Sec. 102. Modification of credit for small employer pension plan startup costs. 
Sec. 103. Promotion of Saver’s Credit. 
Sec. 104. Enhancement of 403(b) plans. 
Sec. 105. Increase in age for required beginning date for mandatory distributions. 
Sec. 106. Indexing IRA catch-up limit. 
Sec. 107. Higher catch-up limit to apply at age 62, 63, and 64. 
Sec. 108. Multiple employer 403(b) plans. 
Sec. 109. Treatment of student loan payments as elective deferrals for purposes 
of matching contributions. 
Sec. 110. Application of credit for small employer pension plan startup costs to 
employers which join an existing plan. 
Sec. 111. Military spouse retirement plan eligibility credit for small employers. 
Sec. 112. Small immediate financial incentives for contributing to a plan. 
Sec. 113. Safe harbor for corrections of employee elective deferral failures. 
Sec. 114. One-year reduction in period of service requirement for long-term, part- 
time workers. 
Sec. 115. Findings relating to S corporation ESOPs. 
TITLE II—PRESERVATION OF INCOME 
Sec. 201. Remove required minimum distribution barriers for life annuities. 
Sec. 202. Qualifying longevity annuity contracts. 
Sec. 203. Insurance-dedicated exchange-traded funds. 
TITLE III—SIMPLIFICATION AND CLARIFICATION OF RETIREMENT 
PLAN RULES 
Sec. 301. Recovery of retirement plan overpayments. 
Sec. 302. Reduction in excise tax on certain accumulations in qualified retire-
ment plans. 
Sec. 303. Performance benchmarks for asset allocation funds. 
Sec. 304. Review and report to the Congress relating to reporting and disclosure 
requirements. 
Sec. 305. Eliminating unnecessary plan requirements related to unenrolled par-
ticipants. 
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Sec. 306. Retirement savings lost and found. 
Sec. 307. Expansion of Employee Plans Compliance Resolution System. 
Sec. 308. Eliminate the ‘‘first day of the month’’ requirement for governmental 
section 457(b) plans. 
Sec. 309. One-time election for qualified charitable distribution to split-interest 
entity; increase in qualified charitable distribution limitation. 
Sec. 310. Distributions to firefighters. 
Sec. 311. Exclusion of certain disability-related first responder retirement pay-
ments. 
Sec. 312. Individual retirement plan statute of limitations for excise tax on excess 
contributions and certain accumulations. 
Sec. 313. Requirement to provide paper statements in certain cases. 
Sec. 314. Separate application of top heavy rules to defined contribution plans 
covering excludible employees. 
Sec. 315. Repayment of qualified birth or adoption distribution limited to 3 
years. 
Sec. 316. Employer may rely on employee certifying that deemed hardship dis-
tribution conditions are met. 
Sec. 317. Penalty-free withdrawals from retirement plans for individuals in case 
of domestic abuse. 
Sec. 318. Reform of family attribution rule. 
Sec. 319. Amendments to increase benefit accruals under plan for previous plan 
year allowed until employer tax return due date. 
Sec. 320. Retroactive first year elective deferrals for sole proprietors. 
Sec. 321. Limiting cessation of IRA treatment to portion of account involved in 
a prohibited transaction. 
TITLE IV—TECHNICAL AMENDMENTS 
Sec. 401. Amendments relating to Setting Every Community Up for Retirement 
Enhancement Act of 2019. 
TITLE V—ADMINISTRATIVE PROVISIONS 
Sec. 501. Provisions relating to plan amendments. 
TITLE VI—REVENUE PROVISIONS 
Sec. 601. Simple and SEP Roth IRAs. 
Sec. 602. Hardship withdrawal rules for 403(b) plans. 
Sec. 603. Elective deferrals generally limited to regular contribution limit. 
Sec. 604. Optional treatment of employer matching contributions as Roth con-
tributions. 
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TITLE I—EXPANDING COVERAGE 
AND 
INCREASING 
RETIRE-
MENT SAVINGS 
SEC. 101. EXPANDING AUTOMATIC ENROLLMENT IN RE-
TIREMENT PLANS. 
(a) IN GENERAL.—Subpart B of part I of subchapter 
D of chapter 1 of the Internal Revenue Code of 1986 is 
amended by inserting after section 414 the following new 
section: 
‘‘SEC. 414A. REQUIREMENTS RELATED TO AUTOMATIC EN-
ROLLMENT. 
‘‘(a) IN GENERAL.—Except as otherwise provided in 
this section— 
‘‘(1) an arrangement shall not be treated as a 
qualified cash or deferred arrangement described in 
section 401(k) unless such arrangement meets the 
automatic enrollment requirements of subsection (b), 
and 
‘‘(2) an annuity contract otherwise described in 
section 403(b)(1) which is purchased under a salary 
reduction agreement shall not be treated as described 
in such section unless such agreement meets the auto-
matic enrollment requirements of subsection (b). 
‘‘(b) AUTOMATIC ENROLLMENT REQUIREMENTS.— 
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‘‘(1) IN GENERAL.—An arrangement or agree-
ment meets the requirements of this subsection if such 
arrangement or agreement is an eligible automatic 
contribution arrangement (as defined in section 
414(w)(3)) which meets the requirements of para-
graphs (2) through (4). 
‘‘(2) 
ALLOWANCE
OF
PERMISSIBLE
WITH-
DRAWALS.—An eligible automatic contribution ar-
rangement meets the requirements of this paragraph 
if such arrangement allows employees to make per-
missible 
withdrawals 
(as 
defined 
in 
section 
414(w)(2)). 
‘‘(3) MINIMUM CONTRIBUTION PERCENTAGE.— 
‘‘(A) IN GENERAL.—An eligible automatic 
contribution arrangement meets the requirements 
of this paragraph if— 
‘‘(i) the uniform percentage of com-
pensation contributed by the participant 
under such arrangement during the first 
year of participation is not less than 3 per-
cent and not more than 10 percent (unless 
the participant specifically elects not to 
have such contributions made or to have 
such contributions made at a different per-
centage), and 
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‘‘(ii) effective for the first day of each 
plan year starting after each completed 
year of participation under such arrange-
ment such uniform percentage is increased 
by 1 percentage point (to at least 10 per-
cent, but not more than 15 percent) unless 
the participant specifically elects not to 
have such contributions made or to have 
such contributions made at a different per-
centage. 
‘‘(B) INITIAL REDUCED CEILING FOR CER-
TAIN PLANS.—In the case of any arrangement to 
which this section applies (other than an ar-
rangement that meets the requirements of para-
graph (12) or (13) of section 401(k)), for plan 
years ending before January 1, 2025, subpara-
graph (A)(ii) shall be applied by substituting ‘10 
percent’ for ‘15 percent’. 
‘‘(4) INVESTMENT REQUIREMENTS.—An eligible 
automatic contribution arrangement meets the re-
quirements of this paragraph if amounts contributed 
pursuant to such arrangement, and for which no in-
vestment is elected by the participant, are invested 
consistent with the requirements of section 2550.404c- 
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5 of title 29, Code of Federal Regulations (or any suc-
cessor regulations). 
‘‘(c) EXCEPTIONS.—For purposes of this section— 
‘‘(1) SIMPLE PLANS.—Subsection (a) shall not 
apply to any simple plan (within the meaning of sec-
tion 401(k)(11)). 
‘‘(2) EXCEPTION FOR PLANS OR ARRANGEMENTS 
ESTABLISHED BEFORE ENACTMENT OF SECTION.— 
‘‘(A) IN GENERAL.—Subsection (a) shall not 
apply to— 
‘‘(i) any qualified cash or deferred ar-
rangement established before the date of the 
enactment of this section, or 
‘‘(ii) any annuity contract purchased 
under a plan established before the date of 
the enactment of this section. 
‘‘(B) POST-ENACTMENT ADOPTION OF MUL-
TIPLE
EMPLOYER
PLAN.—Subparagraph (A) 
shall not apply in the case of an employer adopt-
ing after such date of enactment a plan main-
tained by more than one employer, and sub-
section (a) shall apply with respect to such em-
ployer as if such plan were a single plan. 
‘‘(3) 
EXCEPTION
FOR
GOVERNMENTAL
AND 
CHURCH PLANS.—Subsection (a) shall not apply to 
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tion of this paragraph) shall be treated as main-
taining a separate plan for purposes of this sec-
tion.’’. 
(b) CLERICAL AMENDMENT.—The table of sections for 
subpart B of part I of subchapter D of chapter 1 of the 
Internal Revenue Code of 1986 is amended by inserting 
after the item relating to section 414 the following new item: 
‘‘Sec. 414A. Requirements related to automatic enrollment.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to plan years beginning after December 
31, 2022. 
SEC. 102. MODIFICATION OF CREDIT FOR SMALL EMPLOYER 
PENSION PLAN STARTUP COSTS. 
(a) INCREASE IN CREDIT PERCENTAGE FOR SMALLER 
EMPLOYERS.—Section 45E(e) of the Internal Revenue Code 
of 1986 is amended by adding at the end the following new 
paragraph: 
‘‘(4) INCREASED
CREDIT
FOR
CERTAIN
SMALL 
EMPLOYERS.—In the case of an employer which 
would be an eligible employer under subsection (c) if 
section 408(p)(2)(C)(i) was applied by substituting 
‘50 employees’ for ‘100 employees’, subsection (a) shall 
be applied by substituting ‘100 percent’ for ‘50 per-
cent’.’’. 
(b) ADDITIONAL CREDIT FOR EMPLOYER CONTRIBU-
TIONS BY CERTAIN SMALL EMPLOYERS.—Section 45E of 
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such Code, as amended by subsection (a), is amended by 
adding at the end the following new subsection: 
‘‘(f) ADDITIONAL CREDIT FOR EMPLOYER CONTRIBU-
TIONS BY CERTAIN ELIGIBLE EMPLOYERS.— 
‘‘(1) IN GENERAL.—In the case of an eligible em-
ployer, the credit allowed for the taxable year under 
subsection (a) (determined without regard to this sub-
section) shall be increased by an amount equal to the 
applicable percentage of employer contributions (other 
than any elective deferrals (as defined in section 
402(g)(3)) by the employer to an eligible employer 
plan (other than a defined benefit plan (as defined in 
section 414(j))). 
‘‘(2) LIMITATIONS.— 
‘‘(A) DOLLAR
LIMITATION.—The amount 
determined under paragraph (1) (before the ap-
plication of subparagraph (B)) with respect to 
any employee of the employer shall not exceed 
$1,000. 
‘‘(B) CREDIT PHASE-IN.—In the case of any 
eligible employer which had for the preceding 
taxable year more than 50 employees, the 
amount determined under paragraph (1) (with-
out regard to this subparagraph) shall be reduced 
by an amount equal to the product of— 
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‘‘(i) the amount otherwise so deter-
mined under paragraph (1), multiplied by 
‘‘(ii) a percentage equal to 2 percent-
age points for each employee of the employer 
for the preceding taxable year in excess of 
50 employees. 
‘‘(3) APPLICABLE
PERCENTAGE.—For purposes 
of this section, the applicable percentage for the tax-
able year during which the eligible employer plan is 
established with respect to the eligible employer shall 
be 100 percent, and for taxable years thereafter shall 
be determined under the following table: 
‘‘In the case of the following 
taxable 
year 
beginning 
after 
the 
taxable 
year 
during which plan is es-
tablished with respect to 
the eligible employer: 
The applicable percentage shall 
be: 
1st ........................................................................................................
100% 
2nd ......................................................................................................
75% 
3rd .......................................................................................................
50% 
4th .......................................................................................................
25% 
Any taxable year thereafter ...............................................................
0% 
‘‘(4) DETERMINATION OF ELIGIBLE EMPLOYER; 
NUMBER OF EMPLOYEES.—For purposes of this sub-
section, whether an employer is an eligible employer 
and the number of employees of an employer shall be 
determined under the rules of subsection (c), except 
that paragraph (2) thereof shall only apply to the 
taxable year during which the eligible employer plan 
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to which this section applies is established with re-
spect to the eligible employer.’’. 
(c) 
DISALLOWANCE
OF
DEDUCTION.—Section 
45E(e)(2) of such Code is amended to read as follows: 
‘‘(2) DISALLOWANCE OF DEDUCTION.—No deduc-
tion shall be allowed— 
‘‘(A) for that portion of the qualified start-
up costs paid or incurred for the taxable year 
which is equal to so much of the portion of the 
credit determined under subsection (a) as is 
properly allocable to such costs, and 
‘‘(B) for that portion of the employer con-
tributions by the employer for the taxable year 
which is equal to so much of the credit increase 
determined under subsection (f) as is properly 
allocable to such contributions.’’. 
(d) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2021. 
SEC. 103. PROMOTION OF SAVER’S CREDIT. 
(a) IN GENERAL.—The Secretary of the Treasury shall 
take such steps as the Secretary determines are necessary 
and appropriate to increase public awareness of the credit 
provided under section 25B of the Internal Revenue Code 
of 1986. 
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(b) REPORT TO CONGRESS.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of the enactment of this Act, the Secretary 
shall provide a report to Congress to summarize the 
anticipated promotion efforts of the Treasury under 
subsection (a). 
(2) CONTENTS.—Such report shall include— 
(A) a description of plans for— 
(i) the development and distribution of 
digital and print materials, including the 
distribution of such materials to States for 
participants in State facilitated retirement 
savings programs, and 
(ii) the translation of such materials 
into the 10 most commonly spoken lan-
guages in the United States after English 
(as determined by reference to the most re-
cent American Community Survey of the 
Bureau of the Census), and 
(B) such other information as the Secretary 
determines is necessary 
SEC. 104. ENHANCEMENT OF 403(b) PLANS. 
(a) IN GENERAL.— 
(1) 
PERMITTED
INVESTMENTS.—Section 
403(b)(7)(A) of the Internal Revenue Code of 1986 is 
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amended by striking ‘‘if the amounts are to be in-
vested in regulated investment company stock to be 
held in that custodial account’’ and inserting ‘‘if the 
amounts are to be held in that custodial account and 
invested in regulated investment company stock or a 
group trust intended to satisfy the requirements of In-
ternal Revenue Service Revenue Ruling 81–100 (or 
any successor guidance)’’. 
(2) CONFORMING AMENDMENT.—The heading of 
paragraph (7) of section 403(b) of such Code is 
amended by striking ‘‘FOR REGULATED INVESTMENT 
COMPANY STOCK’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply to amounts invested 
after December 31, 2021. 
(b) AMENDMENTS TO THE INVESTMENT COMPANY ACT 
OF 1940.—Section 3(c)(11) of the Investment Company Act 
of 1940 (15 U.S.C. 80a–3(c)(11)) is amended to read as 
follows: 
‘‘(11) Any— 
‘‘(A) employee’s stock bonus, pension, or 
profit-sharing trust which meets the require-
ments for qualification under section 401 of the 
Internal Revenue Code of 1986; 
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‘‘(B) custodial account meeting the require-
ments of section 403(b)(7) of such Code; 
‘‘(C) governmental plan described in section 
3(a)(2)(C) of the Securities Act of 1933; 
‘‘(D) collective trust fund maintained by a 
bank consisting solely of assets of one or more— 
‘‘(i) trusts described in subparagraph 
(A); 
‘‘(ii) government plans described in 
subparagraph (C); 
‘‘(iii) church plans, companies, or ac-
counts that are excluded from the definition 
of an investment company under paragraph 
(14) of this subsection; or 
‘‘(iv) plans which meet the require-
ments of section 403(b) of the Internal Rev-
enue Code of 1986 if— 
‘‘(I) such plan is subject to title I 
of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1001 
et seq.); 
‘‘(II) any employer making such 
plan available agrees to serve as a fi-
duciary for the plan with respect to the 
selection of the plan’s investments 
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among which participants can choose; 
or 
‘‘(III) such plan is a govern-
mental plan (as defined in section 
414(d) of such Code); or 
‘‘(E) separate account the assets of which 
are derived solely from— 
‘‘(i) contributions under pension or 
profit-sharing plans which meet the require-
ments of section 401 of the Internal Revenue 
Code of 1986 or the requirements for deduc-
tion of the employer’s contribution under 
section 404(a)(2) of such Code; 
‘‘(ii) contributions under governmental 
plans in connection with which interests, 
participations, or securities are exempted 
from the registration provisions of section 5 
of the Securities Act of 1933 by section 
3(a)(2)(C) of such Act; 
‘‘(iii) advances made by an insurance 
company in connection with the operation 
of such separate account; and 
‘‘(iv) contributions to a plan described 
in subparagraph (D)(iv).’’. 
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(c) AMENDMENTS TO THE SECURITIES ACT OF 1933.— 
Section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 
77c(a)(2)) is amended— 
(1) by striking ‘‘or (D)’’ and inserting ‘‘(D) a 
plan which meets the requirements of section 403(b) 
of such Code if (i) such plan is subject to title I of 
the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1001 et seq.), (ii) any employer mak-
ing such plan available agrees to serve as a fiduciary 
for the plan with respect to the selection of the plan’s 
investments among which participants can choose, or 
(iii) such plan is a governmental plan (as defined in 
section 414(d) of such Code); or (E)’’; 
(2) by striking ‘‘(C), or (D)’’ and inserting ‘‘(C), 
(D), or (E)’’; and 
(3) by striking ‘‘(iii) which is a plan funded’’ 
and inserting ‘‘(iii) in the case of a plan not de-
scribed in subparagraph (D), which is a plan fund-
ed’’. 
(d) AMENDMENTS
TO
THE SECURITIES EXCHANGE 
ACT OF 1934.—Section 3(a)(12)(C) of the Securities Ex-
change Act of 1934 (15 U.S.C. 78c(a)(12)(C)) is amended— 
(1) by striking ‘‘or (iv)’’ and inserting ‘‘(iv) a 
plan which meets the requirements of section 403(b) 
of such Code if (I) such plan is subject to title I of 
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the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1001 et seq.), (II) any employer 
making such plan available agrees to serve as a fidu-
ciary for the plan with respect to the selection of the 
plan’s investments among which participants can 
choose, or (III) such plan is a governmental plan (as 
defined in section 414(d) of such Code), or (v)’’; 
(2) by striking ‘‘(ii), or (iii)’’ and inserting 
‘‘(ii), (iii), or (iv)’’; and 
(3) by striking ‘‘(II) is a plan funded’’ and in-
serting ‘‘(II) in the case of a plan not described in 
clause (iv), is a plan funded’’. 
SEC. 105. INCREASE IN AGE FOR REQUIRED BEGINNING 
DATE FOR MANDATORY DISTRIBUTIONS. 
(a) IN GENERAL.—Section 401(a)(9)(C)(i)(I) of the 
Internal Revenue Code of 1986 is amended by striking ‘‘age 
72’’ and inserting ‘‘the applicable age’’. 
(b) SPOUSE BENEFICIARIES; SPECIAL RULE
FOR 
OWNERS.—Subparagraphs (B)(iv)(I) and (C)(ii)(I) of sec-
tion 401(a)(9) of such Code are each amended by striking 
‘‘age 72’’ and inserting ‘‘the applicable age’’. 
(c) APPLICABLE AGE.—Section 401(a)(9)(C) of such 
Code is amended by adding at the end the following new 
clause: 
‘‘(v) APPLICABLE AGE.— 
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‘‘(I) In the case of an individual 
who attains age 72 after December 31, 
2021, and age 73 before January 1, 
2029, the applicable age is 73. 
‘‘(II) In the case of an individual 
who attains age 73 after December 31, 
2028, and age 74 before January 1, 
2032, the applicable age is 74. 
‘‘(III) In the case of an individual 
who attains age 74 after December 31, 
2031, the applicable age is 75.’’. 
(d) CONFORMING AMENDMENTS.—The last sentence of 
section 408(b) of such Code is amended by striking ‘‘age 
72’’ and inserting ‘‘the applicable age (determined under 
section 401(a)(9)(C)(v) for the calendar year in which such 
taxable year begins)’’. 
(e) EFFECTIVE DATE.—The amendments made by this 
section shall apply to distributions required to be made 
after December 31, 2021, with respect to individuals who 
attain age 72 after such date. 
SEC. 106. INDEXING IRA CATCH-UP LIMIT. 
(a) IN
GENERAL.—Subparagraph (C) of section 
219(b)(5) of the Internal Revenue Code of 1986 is amended 
by adding at the end the following new clause: 
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‘‘(iii) INDEXING OF CATCH-UP LIMITA-
TION.—In the case of any taxable year be-
ginning in a calendar year after 2022, the 
$1,000 amount under subparagraph (B)(ii) 
shall be increased by an amount equal to— 
‘‘(I) such dollar amount, multi-
plied by 
‘‘(II) the cost-of-living adjustment 
determined under section 1(f)(3) for 
the calendar year in which the taxable 
year begins, determined by substituting 
‘calendar year 2021’ for ‘calendar year 
2016’ in subparagraph (A)(ii) thereof. 
If any amount after adjustment under the 
preceding sentence is not a multiple of 
$100, such amount shall be rounded to the 
next lower multiple of $100.’’. 
(b) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2022. 
SEC. 107. HIGHER CATCH-UP LIMIT TO APPLY AT AGE 62, 63, 
AND 64. 
(a) IN GENERAL.— 
(1) PLANS OTHER THAN SIMPLE PLANS.—Sec-
tion 414(v)(2)(B)(i) of the Internal Revenue Code of 
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