I 
117TH CONGRESS 
1ST SESSION H. R. 3038 
To amend the Internal Revenue Code to authorize an employee subject to 
a federally mandated retirement age, in the three years prior to and 
including such retirement age, to make additional contributions toward 
a qualified employer plan, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 7, 2021 
Mr. FERGUSON (for himself and Mr. SMITH of Nebraska) introduced the 
following bill; which was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code to authorize an em-
ployee subject to a federally mandated retirement age, 
in the three years prior to and including such retirement 
age, to make additional contributions toward a qualified 
employer plan, and for other purposes. 
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 ‘‘Airline Pilots Retire-
ment Security Act’’. 
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SEC. 2. CATCH-UP CONTRIBUTIONS. 
(a) IN GENERAL.—Section 414(v) of the Internal 
Revenue Code of 1986 is amended— 
(1) in paragraph (2)(A), by striking ‘‘A plan’’ 
and inserting ‘‘Except as provided in subparagraph 
(E)’’, and 
(2) by adding at the end the following new sub-
paragraph: 
‘‘(E) CATCH UP CONTRIBUTIONS FOR INDI-
VIDUALS
WITHIN
OF
FEDERALLY
MANDATED 
RETIREMENT AGE.—For each of the 3 taxable 
years of employment of an employee subject to 
a federally mandated retirement age, the appli-
cable dollar amount shall be twice the dollar 
amount in effect under subparagraph (B).’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to contributions in taxable years 
beginning after December 31, 2020. 
SEC. 3. COST OF LIVING ADJUSTMENT FOR DEFINED CON-
TRIBUTION PLAN LIMIT OF A QUALIFIED EM-
PLOYER RETIREMENT PLAN. 
(a) IN GENERAL.—Section 415(d) of the Internal 
Revenue Code of 1986 is amended— 
(1) by amending paragraph (1)(C) to read as 
follows: 
‘‘(C) the following amount, as applicable: 
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‘‘(i) the $40,000 amount in subsection 
(c)(1)(A) with respect to adjustments for 
calendar years ending before January 1, 
2022, or 
‘‘(ii) $30,000 with respect to adjust-
ments for calendar years beginning on and 
after January 1, 2022, 
for increases in the cost-of-living in accordance 
with regulations prescribed by the Secretary.’’, 
(2) by amending paragraph (3)(D) to read as 
follows: 
‘‘(D) 
AMOUNT
UNDER
PARAGRAPH 
(1)(C).—With respect to adjustments for cal-
endar years ending before January 1, 2022, the 
base period taken into account for purposes of 
paragraph (1)(C) is the calendar quarter begin-
ning July 1, 2001. With respect to adjustments 
for calendar years beginning on and after Janu-
ary 1, 2022, the base period taken into account 
for purposes of paragraph (1)(C) is the cal-
endar quarter beginning July 1, 1987.’’, and 
(3) in paragraph (4)(B), by striking the header 
and inserting ‘‘AMOUNT UNDER PARAGRAPH (1)(C).’’ 
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(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to contributions in taxable years 
beginning after December 31, 2021. 
Æ 
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