A bill to amend the Internal Revenue Code of 1986 to increase from 70 1/2 to 72 1/2 the age at which an individual is required to begin receiving distributions from individual retirement accounts and annuities, and for other purposes.

Amends the Internal Revenue Code to increase from 70 1/2 to 72 1/2 the age: (1) until which deductions will be allowed for qualified retirement contributions for the benefit of an individual; and (2) at which an individual is required to begin receiving distributions from individual retirement accounts and annuities.