A bill to amend the Internal Revenue Code of 1986 to allow the penalty-free early withdrawal of IRA funds for post-secondary educational expenses.

Amends the Internal Revenue Code to exclude from the ten percent additional tax on early distributions from qualified retirement plans any distribution to an employee used to pay the educational expenses (tuition, fees, books, supplies, and reasonable living expenses) of the employee, spouse, or dependent at an institution of higher education or a vocational school.