113 
SEC. 309. ELIMINATE THE ‘‘FIRST DAY OF THE MONTH’’ RE-
QUIREMENT FOR GOVERNMENTAL SECTION 
457(B) PLANS. 
(a) IN GENERAL.—Paragraph (4) of section 457(b) 
of the Internal Revenue Code of 1986 is amended to read 
as follows: 
‘‘(4) which provides that compensation— 
‘‘(A) in the case of an eligible employer de-
scribed 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 pro-
viding 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 enactment of this Act. 
SEC. 310. ONE-TIME ELECTION FOR QUALIFIED CHARI-
TABLE DISTRIBUTION TO SPLIT-INTEREST 
ENTITY; INCREASE IN QUALIFIED CHARI-
TABLE DISTRIBUTION LIMITATION. 
(a) INCREASE IN LIMITATION.—Section 408(d)(8)(A) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘$100,000’’ and inserting ‘‘$130,000’’. 
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(b) ONE-TIME ELECTION FOR QUALIFIED CHARI-
TABLE DISTRIBUTION
TO SPLIT-INTEREST ENTITY.— 
Section 408(d)(8) of such Code 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 subpara-
graph to treat as meeting the requirement 
of subparagraph (B)(i) any distribution 
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 pre-
ceding taxable year, and 
‘‘(II) 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 annu-
ity trust (as defined in section 
664(d)(1)), but only if such trust is 
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funded exclusively by qualified chari-
table distributions, 
‘‘(II) 
a 
charitable 
remainder 
unitrust 
(as 
defined 
in 
section 
664(d)(2)), but only if such unitrust 
is funded exclusively by qualified char-
itable distributions, or 
‘‘(III) a charitable gift annuity 
(as defined in section 501(m)(5)), but 
only if such annuity is funded exclu-
sively 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 OTH-
ERWISE
DEDUCTIBLE.—A 
distribution 
meets the requirement of this clause only 
if— 
‘‘(I) in the case of a distribution 
to a charitable remainder annuity 
trust or a charitable remainder uni-
trust, a deduction for the entire value 
of the remainder interest in the dis-
tribution for the benefit of a specified 
charitable organization would be al-
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116 
lowable under section 170 (determined 
without regard to subsection (b) 
thereof and this paragraph), 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 paragraph). 
‘‘(iv) LIMITATION ON INCOME INTER-
ESTS.—A distribution meets the require-
ments 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.— 
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‘‘(I) CHARITABLE
REMAINDER 
TRUSTS.—Notwithstanding 
section 
664(b), distributions made from a 
trust described in subclause (I) or (II) 
of clause (ii) shall be treated as ordi-
nary income in the hands of the bene-
ficiary to whom the annuity described 
in section 664(d)(1)(A) or the pay-
ment 
described 
in 
section 
664(d)(2)(A) is paid. 
‘‘(II) CHARITABLE
GIFT
ANNU-
ITIES.—Qualified charitable distribu-
tions made to fund a charitable gift 
annuity shall not be treated as an in-
vestment in the contract for purposes 
of section 72(c).’’. 
(c) EFFECTIVE DATE.—The amendment made by 
this section shall apply to distributions made in taxable 
years ending after the date of the enactment of this Act. 
SEC. 311. RETIREMENT PLAN DISTRIBUTIONS FOR CHARI-
TABLE PURPOSE. 
(a) IN GENERAL.—Section 402 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new subsection: 
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‘‘(m) 
DISTRIBUTIONS
FOR
CHARITABLE
PUR-
POSES.— 
‘‘(1) IN GENERAL.—Gross income for any tax-
able year shall not include so much of the aggregate 
amount of qualified charitable distributions made 
with respect to a taxpayer during such taxable year 
which does not exceed the applicable amount. 
‘‘(2) QUALIFIED CHARITABLE DISTRIBUTION.— 
For purposes of this subsection, the term ‘qualified 
charitable distribution’ means any distribution from 
a trust as defined in section 401(a) that is exempt 
from tax under 501(a)— 
‘‘(A) which is made directly by the plan to 
an 
organization 
described 
in 
section 
170(b)(1)(A) (other than any organization de-
scribed in section 509(a)(3) or any fund or ac-
count described in section 4966(d)(2)), and 
‘‘(B) which is made on or after the date 
that the individual on whose behalf the distribu-
tion is made has attained age 701⁄2. 
A distribution shall be treated as a qualified chari-
table distribution only to the extent that the dis-
tribution would be includible in gross income without 
regard to paragraph (1). 
‘‘(3) SPECIAL RULES.— 
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119 
‘‘(A) IN GENERAL.—Rules similar to the 
rules of subparagraphs (C), (E), and (F) of sec-
tion 408(d)(8) shall apply for purposes of this 
subsection. 
‘‘(B) APPLICATION
OF
SECTION
72.— 
Rules 
similar 
to 
the 
rules 
of 
section 
408(d)(8)(D) shall apply for purposes of this 
subsection, by taking into account all amounts 
in the eligible retirement plan to which the tax-
payer has a nonforfeitable right in lieu of all 
amounts in all individual retirement plans of 
the individual. 
‘‘(4) APPLICABLE AMOUNT.—For purposes of 
this subsection, the term ‘applicable amount’ means 
the excess of— 
‘‘(A) $130,000, over 
‘‘(B) the total amount of any distributions 
not includible in gross income of the taxpayer 
for the taxable year by reason of sections 
403(d), 408(d)(8), and 457(e)(19).’’. 
(b) SEPs AND SIMPLEs.—Section 408(d)(8)(B) of 
such Code is amended by striking ‘‘(other than a plan de-
scribed in subsection (k) or (p))’’. 
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(c) CERTAIN ANNUITY PLANS.—Section 403 of such 
Code is amended by adding at the end the following new 
subsection: 
‘‘(d) DISTRIBUTIONS FOR CHARITABLE PURPOSES.— 
The rules of section 402(m) shall apply to distributions 
under an annuity plan described in subsection (a) or an 
annuity contract described in subsection (b).’’. 
(d) 457(b) PLANS.—Subsection (e) of section 457 of 
such Code is amended by adding at the end the following 
new paragraph: 
‘‘(19) DISTRIBUTIONS FOR CHARITABLE PUR-
POSES.—The rules of section 402(m) shall apply to 
distributions under an eligible deferred compensation 
plan established and maintained by an employer de-
scribed in subsection (e)(1)(A).’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to distributions made in taxable 
years ending after the date of the enactment of this Act. 
SEC. 312. DISTRIBUTIONS TO FIREFIGHTERS. 
(a) IN GENERAL.—Subparagraph (A) of section 
72(t)(10) of the Internal Revenue Code of 1986 is amend-
ed by striking ‘‘414(d))’’ and inserting ‘‘414(d)) or a dis-
tribution from a plan described in clause (iii), (iv), or (vi) 
of section 402(c)(8)(B) to an employee who provides fire-
fighting services’’. 
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(b) CONFORMING AMENDMENT.—The heading of 
paragraph (10) of section 72(t) of such Code is amend-
ed— 
(1) by striking ‘‘QUALIFIED’’, and 
(2) by striking ‘‘IN GOVERNMENTAL PLANS’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to distributions made after Decem-
ber 31, 2020. 
SEC. 313. EXCLUSION OF CERTAIN DISABILITY-RELATED 
FIRST RESPONDER RETIREMENT PAYMENTS. 
(a) IN GENERAL.—Part III of subchapter B of chap-
ter 1 of the Internal Revenue Code of 1986 is amended 
by inserting after section 139B the following new section: 
‘‘SEC. 139C. CERTAIN DISABILITY-RELATED FIRST RE-
SPONDER 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 exclud-
able disability amount with respect to such individual. 
‘‘(b) QUALIFIED FIRST RESPONDER RETIREMENT 
PAYMENTS.—For purposes of this section, the term ‘quali-
fied first responder retirement payments’ means, with re-
spect to any taxable year, any pension or annuity which 
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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 quali-
fied first responder service. 
‘‘(c) 
ANNUALIZED
EXCLUDABLE
DISABILITY 
AMOUNT.—For purposes of this section— 
‘‘(1) IN GENERAL.—The term ‘annualized ex-
cludable disability amount’ means, with respect to 
any individual, the service-connected excludable dis-
ability amounts which are properly attributable to 
the 12-month period immediately preceding the date 
on which such individual attains retirement age. 
‘‘(2) SERVICE-CONNECTED
EXCLUDABLE
DIS-
ABILITY AMOUNT.—The term ‘service-connected ex-
cludable 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 at-
tains retirement age. 
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‘‘(3) SPECIAL RULE FOR PARTIAL-YEAR PAY-
MENTS.—In the case of an individual who only re-
ceives 
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 attrib-
utable. 
‘‘(d) QUALIFIED FIRST RESPONDER SERVICE.—For 
purposes of this section, the term ‘qualified first responder 
service’ means service as a law enforcement officer, fire-
fighter, paramedic, or emergency medical technician.’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for part III of subchapter B of chapter 1 of such Code 
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 beginning after the date of the enactment 
of this Act. 
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124 
SEC. 314. INDIVIDUAL RETIREMENT PLAN STATUTE OF LIM-
ITATIONS FOR EXCISE TAX ON EXCESS CON-
TRIBUTIONS, 
CERTAIN 
ACCUMULATIONS, 
AND PROHIBITED TRANSACTIONS. 
Section 6501(l) of the Internal Revenue Code of 1986 
is amended— 
(1) in paragraph (1), by inserting ‘‘(other than 
with respect to an individual retirement plan)’’ after 
‘‘section 4975’’, and 
(2) 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, 4974, or 4975 in 
connection with an individual retirement plan, 
the return referred to in this section shall be 
the income tax return filed by the person on 
whom the tax under such section is imposed for 
the year in which the act (or failure to act) giv-
ing 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 sec-
tion shall be the income tax return that 
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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 there-
of).’’. 
SEC. 315. REQUIREMENT TO PROVIDE PAPER STATEMENTS 
IN CERTAIN CASES. 
(a) IN GENERAL.—Section 105(a)(2) of the Em-
ployee Retirement Income Security Act of 1974 (29 
U.S.C. 1025(a)(2)) is amended— 
(1) in subparagraph (A)(iv), by inserting ‘‘sub-
ject to subparagraph (E),’’ before ‘‘may be deliv-
ered’’; and 
(2) by adding at the end the following: 
‘‘(E) 
PROVISION
OF
PAPER
STATE-
MENTS.—With respect to at least 1 pension 
benefit statement furnished for a calendar year 
with respect to an individual account plan 
under paragraph (1)(A), and with respect to at 
least 1 pension benefit statement furnished 
every 3 calendar years with respect to a defined 
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benefit plan under paragraph (1)(B), such 
statement shall be furnished on paper in writ-
ten form except— 
‘‘(i) in the case of a plan that fur-
nishes such statement in accordance with 
section 2520.104b–1(c) of title 29, Code of 
Federal Regulations; or 
‘‘(ii) in the case of a plan that permits 
a participant or beneficiary to request that 
the statements referred to in the matter 
preceding clause (i) be furnished by elec-
tronic delivery, if the participant or bene-
ficiary requests that such statements be 
delivered electronically and the statements 
are so delivered.’’. 
(b) IMPLEMENTATION.— 
(1) IN
GENERAL.—The Secretary of Labor 
shall, not later than July 1, 2021, update section 
2520.104b–1(c) of title 29, Code of Federal Regula-
tions, to provide that a plan may furnish the state-
ments referred to in subparagraph (E) of section 
105(a)(2) by electronic delivery only if, in addition 
to meeting the other requirements under the regula-
tions— 
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(A) such plan furnishes each participant, 
including participants described in subpara-
graph (B), a one-time initial notice on paper in 
written form, prior to the electronic delivery of 
any pension benefit statement, of their right to 
request that all documents required to be dis-
closed under title I of the Employee Retirement 
Income Security Act of 1974 be furnished on 
paper in written form; and 
(B) such plan furnishes each participant 
who is separated from service with at least 1 
pension benefit statement on paper in written 
form for each calendar year. 
(2) OTHER
GUIDANCE.—In implementing the 
amendment made by subsection (a) with respect to 
a plan that discloses required documents or state-
ments electronically, in accordance with applicable 
guidance governing electronic disclosure by the De-
partment of Labor (with the exception of section 
2520.104b–1(c) of title 29, Code of Federal Regula-
tions), the Secretary of Labor shall, not later than 
July 1, 2021, update such guidance to the extent 
necessary to ensure that— 
(A) a participant or beneficiary under such 
a plan is permitted the opportunity to request 
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128 
that any disclosure required to be delivered on 
paper under applicable guidance by the Depart-
ment of Labor shall be furnished by electronic 
delivery; 
(B) each paper statement furnished under 
such a plan pursuant to the amendment shall 
include— 
(i) an explanation of how to request 
that all such statements, and any other 
document required to be disclosed under 
title I of the Employee Retirement Income 
Security Act of 1974, be furnished by elec-
tronic delivery; and 
(ii) contact information for the plan 
sponsor, including a telephone number; 
(C) the plan may not charge any fee to a 
participant or beneficiary for the delivery of 
paper statements; 
(D) each paper pension benefit statement 
shall identify each plan document required to be 
disclosed and shall include information about 
how a participant or beneficiary may access 
each such document; 
(E) each document required to be disclosed 
that is furnished by electronic delivery under 
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129 
such a plan shall include an explanation of how 
to request that all such documents be furnished 
on paper in written form; 
(F) a plan is permitted to furnish a dupli-
cate electronic statement in any case in which 
the plan furnishes a paper statement; and 
(G) furnishment of such a paper pension 
benefit statement may be combined, in one doc-
ument, with a notice explaining electronic deliv-
ery of other disclosure documents as a default 
selection and the right to opt out of such elec-
tronic delivery, but only if such paper statement 
is furnished prior to the electronic delivery of 
any such statement. 
(c) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply with respect to plan years begin-
ning after December 31, 2021. 
TITLE IV—TECHNICAL 
AMENDMENTS 
SEC. 401. AMENDMENTS RELATING TO SETTING EVERY 
COMMUNITY UP FOR RETIREMENT ENHANCE-
MENT ACT OF 2019. 
(a) TECHNICAL AMENDMENTS.— 
(1) AMENDMENT RELATING TO SECTION 114.— 
Section 401(a)(9)(C)(iii) of the Internal Revenue 
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Code of 1986 is amended by striking ‘‘employee to 
whom clause (i)(II) applies’’ and inserting ‘‘em-
ployee (other than an employee to whom clause 
(i)(II) does not apply by reason of clause (ii))’’. 
(2) AMENDMENT RELATING TO SECTION 116.— 
Section 4973(b) of the Internal Revenue Code of 
1986 is amended by adding at the end of the flush 
matter the following: ‘‘Such term shall not include 
any designated nondeductible contribution (as de-
fined in subparagraph (C) of section 408(o)(2)) 
which does not exceed the nondeductible limit under 
subparagraph (B) thereof by reason of an election 
under section 408(o)(5).’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this section shall take effect as if included in sec-
tion of the Setting Every Community Up for Retire-
ment Enhancement Act of 2019 to which the 
amendment relates. 
(b) 
CLERICAL
AMENDMENT.—Section 
72(t)(2)(H)(vi)(IV) of the Internal Revenue Code of 1986 
is amended by striking ‘‘403(b)(7)(A)(ii)’’ and inserting 
‘‘ 403(b)(7)(A)(i)’’. 
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131 
TITLE V—ADMINISTRATIVE 
PROVISIONS 
SEC. 501. PROVISIONS RELATING TO PLAN AMENDMENTS. 
(a) IN GENERAL.—If this section applies to any re-
tirement plan or contract amendment— 
(1) such retirement plan or contract shall be 
treated as being operated in accordance with the 
terms of the plan during the period described in sub-
section (b)(2)(A); and 
(2) except as provided by the Secretary of the 
Treasury (or the Secretary’s delegate), such retire-
ment plan shall not fail to meet the requirements of 
section 411(d)(6) of the Internal Revenue Code of 
1986 and section 204(g) of the Employee Retire-
ment Income Security Act of 1974 by reason of such 
amendment. 
(b) AMENDMENTS TO WHICH SECTION APPLIES.— 
(1) IN GENERAL.—This section shall apply to 
any amendment to any retirement plan or annuity 
contract which is made— 
(A) pursuant to any amendment made by 
this Act or pursuant to any regulation issued by 
the Secretary of the Treasury or the Secretary 
of Labor (or a delegate of either such Sec-
retary) under this Act; and 
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132 
(B) on or before the last day of the first 
plan year beginning on or after January 1, 
2022. 
In the case of a governmental plan (as defined in 
section 414(d) of the Internal Revenue Code of 
1986), this paragraph shall be applied by sub-
stituting ‘‘2024’’ for ‘‘2022’’. 
(2) CONDITIONS.—This section shall not apply 
to any amendment unless— 
(A) during the period— 
(i) beginning on the date the legisla-
tive or regulatory amendment described in 
paragraph (1)(A) takes effect (or in the 
case of a plan or contract amendment not 
required by such legislative or regulatory 
amendment, the effective date specified by 
the plan); and 
(ii) ending on the date described in 
paragraph (1)(B) (as modified by the sec-
ond sentence of paragraph (1)) (or, if ear-
lier, the date the plan or contract amend-
ment is adopted), 
the plan or contract is operated as if such plan 
or contract amendment were in effect; and 
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133 
(B) such plan or contract amendment ap-
plies retroactively for such period. 
Æ 
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