amended by adding at the end the following new 
subsection: 
‘‘(g) YOUNG SAVERS ACCOUNT.— 
‘‘(1) IN GENERAL.—Except as provided in this 
subsection, a young savers account shall be treated 
in the same manner as a Roth IRA. 
‘‘(2) YOUNG SAVERS ACCOUNT.—For purposes 
of this subsection, the term ‘young savers account’ 
means, with respect to any taxable year, a Roth IRA 
which is established and maintained on behalf of an 
individual who has not attained age 26 before the 
close of the taxable year. 
‘‘(3) CONTRIBUTION
LIMITS.—In the case of 
any contributions for any taxable year to 1 or more 
young savers accounts established and maintained 
on behalf of an individual, each of the following con-
tribution limits for the taxable year shall be in-
creased as follows: 
‘‘(A) The contribution limit applicable to 
the individual under subsection (c)(2) shall be 
increased by the aggregate amount of qualified 
young saver contributions to such accounts for 
the taxable year. 
‘‘(B) The contribution limits applicable to 
the young savers accounts under subsection 
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(a)(1) or (b)(2)(B) of section 408, whichever is 
applicable, shall be increased by the deductible 
amount in effect under section 219(b)(5) for 
such taxable year (determined without regard to 
subparagraph (B) thereof). 
‘‘(4) QUALIFIED
CONTRIBUTIONS.—For pur-
poses of this subsection— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
young saver contribution’ means a contribution 
by an individual (with respect to whom a young 
savers account is not established and main-
tained during the taxable year) to a young sav-
ers account established and maintained on be-
half of another individual. 
‘‘(B) LIMITATIONS.— 
‘‘(i) LIMIT ON ACCOUNTS WITH RE-
SPECT
TO
INDIVIDUAL.—The aggregate 
amount of contributions which may be 
made for any taxable year to all young sav-
ers accounts established and maintained on 
behalf of an individual shall not exceed the 
deductible amount in effect for the taxable 
year under section 219(b)(5) (determined 
without regard to subparagraph (B) there-
of). 
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‘‘(ii) LIMIT ON CONTRIBUTORS.—The 
aggregate amount of qualified contribu-
tions an individual may make for any tax-
able year to all young savers accounts shall 
not exceed the deductible amount in effect 
for 
the 
taxable 
year 
under 
section 
219(b)(5) (determined without regard to 
subparagraph (B) thereof).’’. 
(b) PARTIAL DEDUCTIBILITY OF QUALIFIED YOUNG 
SAVER CONTRIBUTIONS.—Section 219 of such Code (re-
lating to retirement savings) is amended by adding at the 
end the following new subsection: 
‘‘(f) QUALIFIED YOUNG SAVER CONTRIBUTIONS.— 
‘‘(1) IN GENERAL.—The amount allowable as a 
deduction under this section (determined without re-
gard to this subsection) to any individual for any 
taxable year shall be increased by an amount equal 
to 20 percent of so much of the qualified young 
saver contributions (as defined in section 408A(g)) 
made by such individual for such taxable year as 
does not exceed $5,000. 
‘‘(2) LIMIT
BASED
ON
MODIFIED
ADJUSTED 
GROSS
INCOME.—The amount determined under 
paragraph (1) shall be reduced in the same manner 
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as under section 408A(c)(3)(A), except that the ap-
plicable dollar amount shall be— 
‘‘(A) in the case of a taxpayer filing a joint 
return, $315,000, 
‘‘(B) in the case of any other taxpayer 
(other than a married individual filing a sepa-
rate return), $200,000, and 
‘‘(C) in the case of a married individual fil-
ing a separate return, zero. 
‘‘(3) INFLATION ADJUSTMENT.—In the case of 
any taxable year beginning in a calendar year after 
2012, the dollar amounts in subparagraphs (A) and 
(B) of paragraph (2) shall each be increased by an 
amount equal to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year in which the taxable year begins, deter-
mined by substituting ‘calendar year 2011’ for 
‘calendar year 1992’ in subparagraph (B) 
thereof. 
Any increase determined under the preceding sen-
tence shall be rounded to the nearest multiple of 
$1,000.’’. 
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(c) CONFORMING AMENDMENT.—Paragraph (1) of 
section 408A(c) of such Code (relating to no deduction 
allowed) is amended by striking ‘‘No deduction’’ and in-
serting ‘‘Except as provided in section 219(f), no deduc-
tion’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2011. 
Æ 
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