H. R. 2617—883 
Code, and with respect to whom the benefits described 
in clause (ii) thereof were fully paid during the plan year; 
‘‘(B) with respect to whom any amount was distributed 
under section 401(a)(31)(B) of such Code during the plan 
year; or 
‘‘(C) with respect to whom a deferred annuity contract 
was distributed during the plan year; and 
‘‘(4) in the case of a participant or former participant to 
whom paragraph (3) applies— 
‘‘(A) in the case of a participant described in subpara-
graph (B) thereof, the name and address of the designated 
trustee or issuer described in section 401(a)(31)(B)(i) of 
such Code and the account number of the individual retire-
ment plan to which the amount was distributed; and 
‘‘(B) in the case of a participant described in subpara-
graph (C) thereof, the name and address of the issuer 
of such annuity contract and the contract or certificate 
number. 
‘‘(f) USE OF INFORMATION COLLECTED.—The Secretary— 
‘‘(1) may use or disclose information collected under this 
section only for the purpose described in subsection (a)(1)(B), 
and 
‘‘(2) may disclose such information only to such employees 
of the Department of Labor whose official duties relate to 
the purpose described in such subsection. 
‘‘(g) PROGRAM INTEGRITY AUDIT.—On an annual basis for each 
of the first 5 years beginning one year after the establishment 
of the database in subsection (a)(1) and every 5 years thereafter, 
the Inspector General of the Department of Labor shall— 
‘‘(1) conduct an audit of the administration of the Retire-
ment Savings Lost and Found; and 
‘‘(2) submit a report on such audit to the Committee on 
Health, Education, Labor, and Pensions and the Committee 
on Finance of the Senate and the Committee on Ways and 
Means and the Committee on Education and Labor of the 
House of Representatives.’’. 
(b) CONFORMING AMENDMENT.—The table of contents for the 
Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 
et seq.) is amended by inserting after the item relating to section 
522 the following: 
‘‘Sec. 523. Retirement Savings Lost and Found.’’. 
SEC. 304. UPDATING DOLLAR LIMIT FOR MANDATORY DISTRIBUTIONS. 
(a) IN GENERAL.—Section 203(e)(1) of the Employee Retirement 
Income Security Act of 1974 (29 U.S.C. 1053(e)(1)) and sections 
401(a)(31)(B)(ii) and 411(a)(11)(A) are each amended by striking 
‘‘$5,000’’ and inserting ‘‘$7,000’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to distributions made after December 31, 2023. 
SEC. 305. EXPANSION OF EMPLOYEE PLANS COMPLIANCE RESOLUTION 
SYSTEM. 
(a) IN GENERAL.—Except as otherwise provided in the Internal 
Revenue Code of 1986, regulations, or other guidance of general 
applicability prescribed by the Secretary of the Treasury or the 
Secretary’s delegate (referred to in this section as the ‘‘Secretary’’), 
any eligible inadvertent failure to comply with the rules applicable
H. R. 2617—884 
under section 401(a), 403(a), 403(b), 408(p), or 408(k) of such Code 
may be self-corrected under the Employee Plans Compliance Resolu-
tion System (as described in Revenue Procedure 2021–30, or any 
successor guidance, and hereafter in this section referred to as 
the ‘‘EPCRS’’), except to the extent that (1) such failure was identi-
fied by the Secretary prior to any actions which demonstrate a 
specific commitment to implement a self-correction with respect 
to such failure, or (2) the self-correction is not completed within 
a reasonable period after such failure is identified. For purposes 
of self-correction of an eligible inadvertent failure, the correction 
period under section 9.02 of Revenue Procedure 2021–30 (or any 
successor guidance), except as otherwise provided under such Code, 
regulations, or other guidance of general applicability prescribed 
by the Secretary, is indefinite and has no last day, other than 
with respect to failures identified by the Secretary prior to any 
actions which demonstrate a specific commitment to implement 
a self-correction with respect to such failure or with respect to 
a self-correction that is not completed within a reasonable period, 
as described in the preceding sentence. 
(b) LOAN ERRORS.—In the case of an eligible inadvertent failure 
relating to a loan from a plan to a participant— 
(1) such failure may be self-corrected under subsection 
(a) according to the rules of section 6.07 of Revenue Procedure 
2021–30 (or any successor guidance), including the provisions 
related to whether a deemed distribution must be reported 
on Form 1099–R, 
(2) the Secretary of Labor shall treat any such failure 
which is so self-corrected under subsection (a) as meeting the 
requirements of the Voluntary Fiduciary Correction Program 
of the Department of Labor if, with respect to the violation 
of the fiduciary standards of the Employee Retirement Income 
Security Act of 1974, there is a similar loan error eligible 
for correction under EPCRS and the loan error is corrected 
in such manner, and 
(3) the Secretary of Labor may impose reporting or other 
procedural requirements with respect to parties that intend 
to rely on the Voluntary Fiduciary Correction Program for 
self-corrections described in paragraph (2). 
(c) EPCRS FOR IRAS.—The Secretary shall expand the EPCRS 
to allow custodians of individual retirement plans (as defined in 
section 7701(a)(37) of the Internal Revenue Code of 1986) to address 
eligible inadvertent failures with respect to an individual retirement 
plan (as so defined), including (but not limited to)— 
(1) waivers of the excise tax which would otherwise apply 
under section 4974 of the Internal Revenue Code of 1986, 
and 
(2) rules permitting a nonspouse beneficiary to return dis-
tributions to an inherited individual retirement plan described 
in section 408(d)(3)(C) of the Internal Revenue Code of 1986 
in a case where, due to an inadvertent error by a service 
provider, the beneficiary had reason to believe that the distribu-
tion could be rolled over without inclusion in income of any 
part of the distributed amount. 
(d) CORRECTION METHODS FOR ELIGIBLE INADVERTENT FAIL-
URES.—The Secretary shall issue guidance on correction methods 
that are required to be used to correct eligible inadvertent failures,
H. R. 2617—885 
including general principles of correction if a specific correction 
method is not specified by the Secretary. 
(e) ELIGIBLE INADVERTENT FAILURE.—For purposes of this sec-
tion— 
(1) IN GENERAL.—Except as provided in paragraph (2), the 
term ‘‘eligible inadvertent failure’’ means a failure that occurs 
despite the existence of practices and procedures which— 
(A) satisfy the standards set forth in section 4.04 of 
Revenue Procedure 2021–30 (or any successor guidance), 
or 
(B) satisfy similar standards in the case of an indi-
vidual retirement plan. 
(2) EXCEPTION.—The term ‘‘eligible inadvertent failure’’ 
shall not include any failure which is egregious, relates to 
the diversion or misuse of plan assets, or is directly or indirectly 
related to an abusive tax avoidance transaction. 
(f) APPLICATION OF CERTAIN REQUIREMENTS FOR CORRECTING 
ERRORS.—This section shall not apply to any failure unless the 
correction of such failure under this section is made in conformity 
with the general principles that apply to corrections of such failures 
under the Internal Revenue Code of 1986, including regulations 
or other guidance issued thereunder and including those principles 
and corrections set forth in Revenue Procedure 2021–30 (or any 
successor guidance). 
(g) ISSUANCE OF GUIDANCE.—The Secretary of the Treasury, 
or the Secretary’s delegate, shall revise Revenue Procedure 2021– 
30 (or any successor guidance) to take into account the provisions 
of this section not later than the date which is 2 years after 
the date of enactment of this Act. 
SEC. 306. ELIMINATE THE ‘‘FIRST DAY OF THE MONTH’’ REQUIREMENT 
FOR GOVERNMENTAL SECTION 457(b) PLANS. 
(a) IN GENERAL.—Section 457(b)(4) is amended to read as fol-
lows: 
‘‘(4) which provides that compensation— 
‘‘(A) in the case of an eligible employer described in 
subsection (e)(1)(A), will be deferred only if an agreement 
providing for such deferral has been entered into before 
the compensation is currently available to the individual, 
and 
‘‘(B) in any other case, will be deferred for any calendar 
month only if an agreement providing for such deferral 
has been entered into before the beginning of such month,’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to taxable years beginning after the date of the enact-
ment of this Act. 
SEC. 307. ONE-TIME ELECTION FOR QUALIFIED CHARITABLE DIS-
TRIBUTION TO SPLIT-INTEREST ENTITY; INCREASE IN 
QUALIFIED CHARITABLE DISTRIBUTION LIMITATION. 
(a) ONE-TIME ELECTION FOR QUALIFIED CHARITABLE DISTRIBU-
TION TO SPLIT-INTEREST ENTITY.—Section 408(d)(8) is amended by 
adding at the end the following new subparagraph: 
‘‘(F) ONE-TIME ELECTION FOR QUALIFIED CHARITABLE 
DISTRIBUTION TO SPLIT-INTEREST ENTITY.— 
‘‘(i) IN GENERAL.—A taxpayer may for a taxable 
year elect under this subparagraph to treat as meeting 
the requirement of subparagraph (B)(i) any distribution
H. R. 2617—886 
from an individual retirement account which is made 
directly by the trustee to a split-interest entity, but 
only if— 
‘‘(I) an election is not in effect under this 
subparagraph for a preceding taxable year, 
‘‘(II) the aggregate amount of distributions of 
the taxpayer with respect to which an election 
under this subparagraph is made does not exceed 
$50,000, and 
‘‘(III) such distribution meets the requirements 
of clauses (iii) and (iv). 
‘‘(ii) SPLIT-INTEREST ENTITY.—For purposes of this 
subparagraph, the term ‘split-interest entity’ means— 
‘‘(I) a charitable remainder annuity trust (as 
defined in section 664(d)(1)), but only if such trust 
is funded exclusively by qualified charitable dis-
tributions, 
‘‘(II) a charitable remainder unitrust (as 
defined in section 664(d)(2)), but only if such 
unitrust is funded exclusively by qualified chari-
table distributions, or 
‘‘(III) a charitable gift annuity (as defined in 
section 501(m)(5)), but only if such annuity is 
funded exclusively by qualified charitable distribu-
tions and commences fixed payments of 5 percent 
or greater not later than 1 year from the date 
of funding. 
‘‘(iii) CONTRIBUTIONS MUST BE OTHERWISE DEDUCT-
IBLE.—A distribution meets the requirements of this 
clause only if— 
‘‘(I) in the case of a distribution to a charitable 
remainder annuity trust or a charitable remainder 
unitrust, a deduction for the entire value of the 
remainder interest in the distribution for the ben-
efit of a specified charitable organization would 
be allowable under section 170 (determined with-
out regard to subsection (b) thereof and this para-
graph), and 
‘‘(II) in the case of a charitable gift annuity, 
a deduction in an amount equal to the amount 
of the distribution reduced by the value of the 
annuity described in section 501(m)(5)(B) would 
be allowable under section 170 (determined with-
out regard to subsection (b) thereof and this para-
graph). 
‘‘(iv) LIMITATION
ON
INCOME
INTERESTS.—A dis-
tribution meets the requirements of this clause only 
if— 
‘‘(I) no person holds an income interest in the 
split-interest entity other than the individual for 
whose benefit such account is maintained, the 
spouse of such individual, or both, and 
‘‘(II) the income interest in the split-interest 
entity is nonassignable. 
‘‘(v) SPECIAL RULES.— 
‘‘(I) CHARITABLE
REMAINDER
TRUSTS.—Not-
withstanding section 664(b), distributions made
H. R. 2617—887 
from a trust described in subclause (I) or (II) of 
clause (ii) shall be treated as ordinary income in 
the hands of the beneficiary to whom the annuity 
described in section 664(d)(1)(A) or the payment 
described in section 664(d)(2)(A) is paid. 
‘‘(II) CHARITABLE GIFT ANNUITIES.—Qualified 
charitable distributions made to fund a charitable 
gift annuity shall not be treated as an investment 
in the contract for purposes of section 72(c).’’. 
(b) INFLATION ADJUSTMENT.—Section 408(d)(8), as amended by 
subsection (a), is further amended by adding at the end the following 
new subparagraph: 
‘‘(G) INFLATION ADJUSTMENT.— 
‘‘(i) IN GENERAL.—In the case of any taxable year 
beginning after 2023, each of the dollar amounts in 
subparagraphs (A) and (F) shall be increased by an 
amount equal to— 
‘‘(I) such dollar amount, multiplied 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 sub-
stituting ‘calendar year 2022’ for ‘calendar year 
2016’ in subparagraph (A)(ii) thereof. 
‘‘(ii) ROUNDING.—If any dollar amount increased 
under clause (i) is not a multiple of $1,000, such dollar 
amount shall be rounded to the nearest multiple of 
$1,000.’’. 
(c) EFFECTIVE DATE.—The amendment made by this section 
shall apply to distributions made in taxable years beginning after 
the date of the enactment of this Act. 
SEC. 308. DISTRIBUTIONS TO FIREFIGHTERS. 
(a) IN GENERAL.—Subparagraph (A) of section 72(t)(10) is 
amended by striking ‘‘414(d))’’ and inserting ‘‘414(d)) or a distribu-
tion from a plan described in clause (iii), (iv), or (vi) of section 
402(c)(8)(B) to an employee who provides firefighting services’’. 
(b) CONFORMING AMENDMENT.—The heading of paragraph (10) 
of section 72(t) is amended by striking ‘‘IN GOVERNMENTAL PLANS’’ 
and inserting ‘‘AND PRIVATE SECTOR FIREFIGHTERS’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall apply to distributions made after the date of the enactment 
of this Act. 
SEC. 309. EXCLUSION OF CERTAIN DISABILITY-RELATED FIRST 
RESPONDER RETIREMENT PAYMENTS. 
(a) IN GENERAL.—Part III of subchapter B of chapter 1 is 
amended by inserting after section 139B the following new section: 
‘‘SEC. 
139C. 
CERTAIN 
DISABILITY-RELATED 
FIRST 
RESPONDER 
RETIREMENT PAYMENTS. 
‘‘(a) IN GENERAL.—In the case of an individual who receives 
qualified first responder retirement payments for any taxable year, 
gross income shall not include so much of such payments as do 
not exceed the annualized excludable disability amount with respect 
to such individual.
H. R. 2617—888 
‘‘(b) QUALIFIED FIRST RESPONDER RETIREMENT PAYMENTS.—For 
purposes of this section, the term ‘qualified first responder retire-
ment payments’ means, with respect to any taxable year, any pen-
sion or annuity which but for this section would be includible 
in gross income for such taxable year and which is received— 
‘‘(1) from a plan described in clause (iii), (iv), (v), or (vi) 
of section 402(c)(8)(B), and 
‘‘(2) in connection with such individual’s qualified first 
responder service. 
‘‘(c) ANNUALIZED EXCLUDABLE DISABILITY AMOUNT.—For pur-
poses of this section— 
‘‘(1) IN
GENERAL.—The term ‘annualized excludable dis-
ability amount’ means, with respect to any individual, the 
service-connected excludable disability amounts which are prop-
erly attributable to the 12-month period immediately preceding 
the date on which such individual attains retirement age. 
‘‘(2) 
SERVICE-CONNECTED
EXCLUDABLE
DISABILITY 
AMOUNT.—The term ‘service-connected excludable disability 
amount’ means periodic payments received by an individual 
which— 
‘‘(A) are not includible in such individual’s gross income 
under section 104(a)(1), 
‘‘(B) are received in connection with such individual’s 
qualified first responder service, and 
‘‘(C) terminate when such individual attains retirement 
age. 
‘‘(3) SPECIAL RULE FOR PARTIAL-YEAR PAYMENTS.—In the 
case of an individual who only receives service-connected 
excludable disability amounts properly attributable to a portion 
of the 12-month period described in paragraph (1), such para-
graph shall be applied by multiplying such amounts by the 
ratio of 365 to the number of days in such period to which 
such amounts were properly attributable. 
‘‘(d) QUALIFIED FIRST RESPONDER SERVICE.—For purposes of 
this section, the term ‘qualified first responder service’ means 
service as a law enforcement officer, firefighter, paramedic, or emer-
gency medical technician.’’. 
(b) CLERICAL AMENDMENT.—The table of sections for part III 
of subchapter B of chapter 1 is amended by inserting after the 
item relating to section 139B the following new item: 
‘‘Sec. 139C. Certain disability-related first responder retirement payments.’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall apply to amounts received with respect to taxable years begin-
ning after December 31, 2026. 
SEC. 310. APPLICATION OF TOP HEAVY RULES TO DEFINED CONTRIBU-
TION PLANS COVERING EXCLUDABLE EMPLOYEES. 
(a) IN GENERAL.—Paragraph (2) of section 416(c) is amended 
by adding at the end the following new subparagraph: 
‘‘(C) APPLICATION TO EMPLOYEES NOT MEETING AGE AND 
SERVICE REQUIREMENTS.—Any employees not meeting the 
age or service requirements of section 410(a)(1) (without 
regard to subparagraph (B) thereof) may be excluded from 
consideration in determining whether any plan of the 
employer meets the requirements of subparagraphs (A) 
and (B).’’.
H. R. 2617—889 
(b) EFFECTIVE DATE.—The amendment made by subsection (a) 
shall apply to plan years beginning after December 31, 2023. 
SEC. 311. REPAYMENT OF QUALIFIED BIRTH OR ADOPTION DISTRIBU-
TION LIMITED TO 3 YEARS. 
(a) IN
GENERAL.—Section 72(t)(2)(H)(v)(I) is amended by 
striking ‘‘may make’’ and inserting ‘‘may, at any time during the 
3-year period beginning on the day after the date on which such 
distribution was received, make’’. 
(b) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as provided in paragraph (2), the 
amendment made by this section shall apply to distributions 
made after the date of the enactment of this Act. 
(2) TEMPORARY
RULE
WITH
RESPECT
TO
DISTRIBUTIONS 
ALREADY MADE.—In the case of a qualified birth or adoption 
distribution (as defined in section 72(t)(2)(H)(iii)(I) of the 
Internal Revenue Code of 1986) made on or before the date 
of the enactment of this Act, section 72(t)(2)(H)(v)(I) of such 
Code (as amended by this Act) shall apply to such distribution 
by substituting ‘‘after such distribution and before January 
1, 2026’’ for ‘‘during the 3-year period beginning on the day 
after the date on which such distribution was received’’. 
SEC. 312. EMPLOYER MAY RELY ON EMPLOYEE CERTIFYING THAT 
DEEMED HARDSHIP DISTRIBUTION CONDITIONS ARE MET. 
(a) CASH OR DEFERRED ARRANGEMENTS.—Section 401(k)(14) is 
amended by adding at the end the following new subparagraph: 
‘‘(C) 
EMPLOYEE
CERTIFICATION.—In 
determining 
whether a distribution is upon the hardship of an employee, 
the administrator of the plan may rely on a written certifi-
cation by the employee that the distribution is— 
‘‘(i) on account of a financial need of a type which 
is deemed in regulations prescribed by the Secretary 
to be an immediate and heavy financial need, and 
‘‘(ii) not in excess of the amount required to satisfy 
such financial need, and 
that the employee has no alternative means reasonably 
available to satisfy such financial need. The Secretary may 
provide by regulations for exceptions to the rule of the 
preceding sentence in cases where the plan administrator 
has actual knowledge to the contrary of the employee’s 
certification, and for procedures for addressing cases of 
employee misrepresentation.’’. 
(b) 403(b) PLANS.— 
(1) CUSTODIAL ACCOUNTS.—Section 403(b)(7) is amended 
by adding at the end the following new subparagraph: 
‘‘(D) 
EMPLOYEE
CERTIFICATION.—In 
determining 
whether a distribution is upon the financial hardship of 
an employee, the administrator of the plan may rely on 
a written certification by the employee that the distribution 
is— 
‘‘(i) on account of a financial need of a type which 
is deemed in regulations prescribed by the Secretary 
to be an immediate and heavy financial need, and 
‘‘(ii) not in excess of the amount required to satisfy 
such financial need, and 
that the employee has no alternative means reasonably 
available to satisfy such financial need. The Secretary may
H. R. 2617—890 
provide by regulations for exceptions to the rule of the 
preceding sentence in cases where the plan administrator 
has actual knowledge to the contrary of the employee’s 
certification, and for procedures for addressing cases of 
employee misrepresentation.’’. 
(2) ANNUITY CONTRACTS.—Section 403(b)(11) is amended 
by adding at the end the following: ‘‘In determining whether 
a distribution is upon hardship of an employee, the adminis-
trator of the plan may rely on a written certification by the 
employee that the distribution is on account of a financial 
need of a type which is deemed in regulations prescribed by 
the Secretary to be an immediate and heavy financial need 
and is not in excess of the amount required to satisfy such 
financial need, and that the employee has no alternative means 
reasonably available to satisfy such financial need. The Sec-
retary may provide by regulations for exceptions to the rule 
of the preceding sentence in cases where the plan administrator 
has actual knowledge to the contrary of the employee’s certifi-
cation, and for procedures for addressing cases of employee 
misrepresentation.’’. 
(c) 457(b) PLAN.—Section 457(d) is amended by adding at the 
end the following new paragraph: 
‘‘(4) PARTICIPANT CERTIFICATION.—In determining whether 
a distribution to a participant is made when the participant 
is faced with an unforeseeable emergency, the administrator 
of a plan maintained by an eligible employer described in 
subsection (e)(1)(A) may rely on a written certification by the 
participant that the distribution is— 
‘‘(A) made when the participant is faced with an 
unforeseeable emergency of a type which is described in 
regulations prescribed by the Secretary as an unforeseeable 
emergency, and 
‘‘(B) not in excess of the amount required to satisfy 
the emergency need, and 
that the participant has no alternative means reasonably avail-
able to satisfy such emergency need. The Secretary may provide 
by regulations for exceptions to the rule of the preceding sen-
tence in cases where the plan administrator has actual knowl-
edge to the contrary of the participant’s certification, and for 
procedures for addressing cases of participant misrepresenta-
tion.’’. 
(d) EFFECTIVE DATE.—The amendments made by this section 
shall apply to plan years beginning after the date of the enactment 
of this Act. 
SEC. 313. INDIVIDUAL RETIREMENT PLAN STATUTE OF LIMITATIONS 
FOR EXCISE TAX ON EXCESS CONTRIBUTIONS AND CER-
TAIN ACCUMULATIONS. 
(a) IN GENERAL.—Section 6501(l) is amended by adding at 
the end the following new paragraph: 
‘‘(4) INDIVIDUAL RETIREMENT PLANS.— 
‘‘(A) IN GENERAL.—For purposes of any tax imposed 
by section 4973 or 4974 in connection with an individual 
retirement plan, the return referred to in this section shall 
include the income tax return filed by the person on whom 
the tax under such section is imposed for the year in
H. R. 2617—891 
which the act (or failure to act) giving rise to the liability 
for such tax occurred. 
‘‘(B) RULE IN CASE OF INDIVIDUALS NOT REQUIRED TO 
FILE RETURN.—In the case of a person who is not required 
to file an income tax return for such year— 
‘‘(i) the return referred to in this section shall 
be the income tax return that such person would have 
been required to file but for the fact that such person 
was not required to file such return, and 
‘‘(ii) the 3-year period referred to in subsection 
(a) with respect to the return shall be deemed to begin 
on the date by which the return would have been 
required to be filed (excluding any extension thereof). 
‘‘(C) PERIOD FOR ASSESSMENT IN CASE OF INCOME TAX 
RETURN.—In any case in which the return with respect 
to a tax imposed by section 4973 is the individual’s income 
tax return for purposes of this section, subsection (a) shall 
be applied by substituting a 6-year period in lieu of the 
3-year period otherwise referred to in such subsection. 
‘‘(D) EXCEPTION FOR CERTAIN ACQUISITIONS OF PROP-
ERTY.—In the case of any tax imposed by section 4973 
that is attributable to acquiring property for less than 
fair market value, subparagraph (A) shall not apply.’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall take effect on the date of the enactment of this Act. 
SEC. 314. PENALTY-FREE WITHDRAWAL FROM RETIREMENT PLANS 
FOR INDIVIDUAL IN CASE OF DOMESTIC ABUSE. 
(a) IN GENERAL.—Paragraph (2) of section 72(t), as amended 
by this Act, is further amended by adding at the end the following 
new subparagraph: 
‘‘(K) DISTRIBUTION
FROM
RETIREMENT
PLAN
IN
CASE 
OF DOMESTIC ABUSE.— 
‘‘(i) IN
GENERAL.—Any eligible distribution to a 
domestic abuse victim. 
‘‘(ii) LIMITATION.—The aggregate amount which 
may be treated as an eligible distribution to a domestic 
abuse victim by any individual shall not exceed an 
amount equal to the lesser of— 
‘‘(I) $10,000, or 
‘‘(II) 50 percent of the present value of the 
nonforfeitable accrued benefit of the employee 
under the plan. 
‘‘(iii) ELIGIBLE DISTRIBUTION TO A DOMESTIC ABUSE 
VICTIM.—For purposes of this subparagraph— 
‘‘(I) IN
GENERAL.—A distribution shall be 
treated as an eligible distribution to a domestic 
abuse victim if such distribution is from an 
applicable eligible retirement plan and is made 
to an individual during the 1-year period beginning 
on any date on which the individual is a victim 
of domestic abuse by a spouse or domestic partner. 
‘‘(II) DOMESTIC
ABUSE.—The term ‘domestic 
abuse’ means physical, psychological, sexual, emo-
tional, or economic abuse, including efforts to con-
trol, isolate, humiliate, or intimidate the victim, 
or to undermine the victim’s ability to reason
H. R. 2617—892 
independently, including by means of abuse of the 
victim’s child or another family member living in 
the household. 
‘‘(iv) TREATMENT OF PLAN DISTRIBUTIONS.—If a dis-
tribution to an individual would (without regard to 
clause (ii)) be an eligible distribution to a domestic 
abuse victim, a plan shall not be treated as failing 
to meet any requirement of this title merely because 
the plan treats the distribution as an eligible distribu-
tion to a domestic abuse victim, unless the aggregate 
amount of such distributions from all plans maintained 
by the employer (and any member of any controlled 
group which includes the employer, determined as pro-
vided in subparagraph (H)(iv)(II)) to such individual 
exceeds the limitation under clause (ii). 
‘‘(v) AMOUNT DISTRIBUTED MAY BE REPAID.—Rules 
similar to the rules of subparagraph (H)(v) shall apply 
with respect to an individual who receives a distribu-
tion to which clause (i) applies. 
‘‘(vi) DEFINITION
AND
SPECIAL
RULES.—For pur-
poses of this subparagraph: 
‘‘(I) APPLICABLE ELIGIBLE RETIREMENT PLAN.— 
The term ‘applicable eligible retirement plan’ 
means an eligible retirement plan (as defined in 
section 402(c)(8)(B)) other than a defined benefit 
plan or a plan to which sections 401(a)(11) and 
417 apply. 
‘‘(II) EXEMPTION
OF
DISTRIBUTIONS
FROM 
TRUSTEE TO TRUSTEE TRANSFER AND WITHHOLDING 
RULES.—For purposes of sections 401(a)(31), 402(f), 
and 3405, an eligible distribution to a domestic 
abuse victim shall not be treated as an eligible 
rollover distribution. 
‘‘(III) DISTRIBUTIONS
TREATED
AS
MEETING 
PLAN DISTRIBUTION REQUIREMENTS; SELF-CERTIFI-
CATION.—Any distribution which the employee or 
participant certifies as being an eligible distribu-
tion to a domestic abuse victim shall be treated 
as 
meeting 
the 
requirements 
of 
sections 
401(k)(2)(B)(i), 
403(b)(7)(A)(i), 
403(b)(11), 
and 
457(d)(1)(A). 
‘‘(vii) INFLATION ADJUSTMENT.—In the case of a 
taxable year beginning in a calendar year after 2024, 
the $10,000 amount in clause (ii)(I) shall be increased 
by an amount equal to— 
‘‘(I) such dollar amount, multiplied 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 sub-
stituting ‘calendar year 2023’ 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 nearest multiple of $100.’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to distributions made after December 31, 2023.
H. R. 2617—894 
‘‘(iii) PLAN SHALL NOT FAIL TO BE TREATED AS SATIS-
FYING THIS SECTION.—If the application of clause (ii) 
causes two or more entities to be an affiliated service 
group, or to no longer be in an affiliated service group, 
such change shall be treated as a transaction to which 
section 410(b)(6)(C) applies.’’, and 
(C) by striking ‘‘apply’’ in clause (i), as so added, and 
inserting ‘‘apply, except that community property laws shall 
be disregarded for purposes of determining ownership’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to plan years beginning after December 31, 2023. 
SEC. 316. AMENDMENTS TO INCREASE BENEFIT ACCRUALS UNDER 
PLAN 
FOR 
PREVIOUS 
PLAN 
YEAR 
ALLOWED 
UNTIL 
EMPLOYER TAX RETURN DUE DATE. 
(a) IN GENERAL.—Section 401(b) is amended by adding at the 
end the following new paragraph: 
‘‘(3) RETROACTIVE PLAN AMENDMENTS THAT INCREASE BEN-
EFIT ACCRUALS.—If— 
‘‘(A) an employer amends a stock bonus, pension, profit- 
sharing, or annuity plan to increase benefits accrued under 
the plan effective as of any date during the immediately 
preceding plan year (other than increasing the amount 
of matching contributions (as defined in subsection 
(m)(4)(A))), 
‘‘(B) such amendment would not otherwise cause the 
plan to fail to meet any of the requirements of this sub-
chapter, and 
‘‘(C) such amendment is adopted before the time pre-
scribed by law for filing the return of the employer for 
the taxable year (including extensions thereof) which 
includes the date described in subparagraph (A), 
the employer may elect to treat such amendment as having 
been adopted as of the last day of the plan year in which 
the amendment is effective.’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to plan years beginning after December 31, 2023. 
SEC. 317. RETROACTIVE FIRST YEAR ELECTIVE DEFERRALS FOR SOLE 
PROPRIETORS. 
(a) IN GENERAL.—Section 401(b)(2) is amended by adding at 
the end the following: ‘‘In the case of an individual who owns 
the entire interest in an unincorporated trade or business, and 
who is the only employee of such trade or business, any elective 
deferrals (as defined in section 402(g)(3)) under a qualified cash 
or deferred arrangement to which the preceding sentence applies, 
which are made by such individual before the time for filing the 
return of such individual for the taxable year (determined without 
regard to any extensions) ending after or with the end of the 
plan’s first plan year, shall be treated as having been made before 
the end of such first plan year.’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to plan years beginning after the date of the enactment 
of this Act.
H. R. 2617—895 
SEC. 318. PERFORMANCE BENCHMARKS FOR ASSET ALLOCATION 
FUNDS. 
(a) IN GENERAL.—Not later than 2 years after the date of 
enactment of this Act, the Secretary of Labor shall promulgate 
regulations under section 404 of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1104) providing that, in the case 
of a designated investment alternative that contains a mix of asset 
classes, the administrator of a plan may, but is not required to, 
use a benchmark that is a blend of different broad-based securities 
market indices if— 
(1) the blend is reasonably representative of the asset class 
holdings of the designated investment alternative; 
(2) for purposes of determining the blend’s returns for 
1-, 5-, and 10-calendar-year periods (or for the life of the alter-
native, if shorter), the blend is modified at least once per 
year if needed to reflect changes in the asset class holdings 
of the designated investment alternative; 
(3) the blend is furnished to participants and beneficiaries 
in a manner that is reasonably calculated to be understood 
by the average plan participant; and 
(4) each securities market index that is used for an associ-
ated asset class would separately satisfy the requirements of 
such regulation for such asset class. 
(b) STUDY.—Not later than 3 years after the applicability date 
of regulations issued under this section, the Secretary of Labor 
shall deliver a report to the Committees on Finance and Health, 
Education, Labor, and Pensions of the Senate and the Committees 
on Ways and Means and Education and Labor of the House of 
Representatives regarding the utilization, and participants’ under-
standing, of the benchmarking requirements under this section. 
SEC. 319. REVIEW AND REPORT TO CONGRESS RELATING TO 
REPORTING AND DISCLOSURE REQUIREMENTS. 
(a) STUDY.—As soon as practicable after the date of enactment 
of this Act, the Secretary of Labor, the Secretary of the Treasury, 
and the Director of the Pension Benefit Guaranty Corporation shall 
review the reporting and disclosure requirements as applicable 
to each such agency head, of— 
(1) the Employee Retirement Income Security Act of 1974 
applicable to pension plans (as defined in section 3(2) of such 
Act (29 U.S.C. 1002(2)) covered by title I of such Act; and 
(2) the Internal Revenue Code of 1986 applicable to quali-
fied retirement plans (as defined in section 4974(c) of such 
Code, without regard to paragraphs (4) and (5) of such section). 
(b) REPORT.— 
(1) IN GENERAL.—Not later than 3 years after the date 
of enactment of this Act, the Secretary of Labor, the Secretary 
of the Treasury, and the Director of the Pension Benefit Guar-
anty Corporation, jointly, and after consultation with a balanced 
group of participant and employer representatives, shall with 
respect to plans referenced in subsection (a) report on the 
effectiveness of the applicable reporting and disclosure require-
ments and make such recommendations as may be appropriate 
to the Committee on Education and Labor and the Committee 
on Ways and Means of the House of Representatives and the 
Committee on Health, Education, Labor, and Pensions and 
the Committee on Finance of the Senate to consolidate, simplify,
H. R. 2617—896 
standardize, and improve such requirements so as to simplify 
reporting for, and disclosure from, such plans and ensure that 
plans can furnish and participants and beneficiaries timely 
receive and better understand the information they need to 
monitor their plans, plan for retirement, and obtain the benefits 
they have earned. 
(2) ANALYSIS OF EFFECTIVENESS.—To assess the effective-
ness of the applicable reporting and disclosure requirements, 
the report shall include an analysis of how participants and 
beneficiaries are providing preferred contact information, the 
methods by which plan sponsors and plans are furnishing 
disclosures, and the rate at which participants and beneficiaries 
are receiving, accessing, understanding, and retaining disclo-
sures. 
(3) COLLECTION OF INFORMATION.—The agencies shall con-
duct appropriate surveys and data collection to obtain any 
needed information. 
SEC. 
320. 
ELIMINATING 
UNNECESSARY 
PLAN 
REQUIREMENTS 
RELATED TO UNENROLLED PARTICIPANTS. 
(a) AMENDMENT OF ERISA.— 
(1) IN
GENERAL.—Part 1 of subtitle B of title I of the 
Employee Retirement Income Security Act of 1974 (29 U.S.C. 
1021 et seq.) is amended by redesignating section 111 as section 
112 and by inserting after section 110 the following new section: 
‘‘SEC. 
111. 
ELIMINATING 
UNNECESSARY 
PLAN 
REQUIREMENTS 
RELATED TO UNENROLLED PARTICIPANTS. 
‘‘(a) IN GENERAL.—Notwithstanding any other provision of this 
title, with respect to any individual account plan, no disclosure, 
notice, or other plan document (other than the notices and docu-
ments described in paragraphs (1) and (2)) shall be required to 
be furnished under this title to any unenrolled participant if the 
unenrolled participant is furnished— 
‘‘(1) an annual reminder notice of such participant’s eligi-
bility to participate in such plan and any applicable election 
deadlines under the plan; and 
‘‘(2) any document requested by such participant that the 
participant would be entitled to receive notwithstanding this 
section. 
‘‘(b) UNENROLLED PARTICIPANT.—For purposes of this section, 
the term ‘unenrolled participant’ means an employee who— 
‘‘(1) is eligible to participate in an individual account plan; 
‘‘(2) has been furnished— 
‘‘(A) the summary plan description pursuant to section 
104(b), and 
‘‘(B) any other notices related to eligibility under the 
plan required to be furnished under this title, or the 
Internal Revenue Code of 1986, in connection with such 
participant’s initial eligibility to participate in such plan; 
‘‘(3) is not participating in such plan; and 
‘‘(4) satisfies such other criteria as the Secretary of Labor 
may determine appropriate, as prescribed in guidance issued 
in consultation with the Secretary of Treasury. 
For purposes of this section, any eligibility to participate in the 
plan following any period for which such employee was not eligible 
to participate shall be treated as initial eligibility.
H. R. 2617—897 
‘‘(c) ANNUAL REMINDER NOTICE.—For purposes of this section, 
the term ‘annual reminder notice’ means a notice provided in accord-
ance with section 2520.104b–1 of title 29, Code of Federal Regula-
tions (or any successor regulation), which— 
‘‘(1) is furnished in connection with the annual open season 
election period with respect to the plan or, if there is no such 
period, is furnished within a reasonable period prior to the 
beginning of each plan year; 
‘‘(2) notifies the unenrolled participant of— 
‘‘(A) the unenrolled participant’s eligibility to partici-
pate in the plan; and 
‘‘(B) the key benefits and rights under the plan, with 
a focus on employer contributions and vesting provisions; 
and 
‘‘(3) provides such information in a prominent manner cal-
culated to be understood by the average participant.’’. 
(2) CLERICAL AMENDMENT.—The table of contents in section 
1 of the Employee Retirement Income Security Act of 1974 
is amended by striking the item relating to section 111 and 
by inserting after the item relating to section 110 the following 
new items: 
‘‘Sec. 111. Eliminating unnecessary plan requirements related to unenrolled partici-
pants. 
‘‘Sec. 112. Repeal and effective date.’’. 
(b) AMENDMENT OF INTERNAL REVENUE CODE OF 1986.—Section 
414, as amended by the preceding provisions of this Act, is amended 
by adding at the end the following new subsection: 
‘‘(bb) 
ELIMINATING
UNNECESSARY
PLAN
REQUIREMENTS 
RELATED TO UNENROLLED PARTICIPANTS.— 
‘‘(1) IN GENERAL.—Notwithstanding any other provision of 
this title, with respect to any defined contribution plan, no 
disclosure, notice, or other plan document (other than the 
notices and documents described in subparagraphs (A) and 
(B)) shall be required to be furnished under this title to any 
unenrolled participant if the unenrolled participant is fur-
nished— 
‘‘(A) an annual reminder notice of such participant’s 
eligibility to participate in such plan and any applicable 
election deadlines under the plan, and 
‘‘(B) any document requested by such participant that 
the participant would be entitled to receive notwithstanding 
this subsection. 
‘‘(2) UNENROLLED PARTICIPANT.—For purposes of this sub-
section, the term ‘unenrolled participant’ means an employee 
who— 
‘‘(A) is eligible to participate in a defined contribution 
plan, 
‘‘(B) has been furnished— 
‘‘(i) the summary plan description pursuant to sec-
tion 104(b) of the Employee Retirement Income Secu-
rity Act of 1974, and 
‘‘(ii) any other notices related to eligibility under 
the plan and required to be furnished under this title, 
or the Employee Retirement Income Security Act of 
1974, in connection with such participant’s initial eligi-
bility to participate in such plan, 
‘‘(C) is not participating in such plan, and