A bill to amend the Internal Revenue Code of 1986 to establish an exception to the penalty on early distributions from qualified plans for individuals diagnosed with certain terminal illnesses.
Kathryn Manginelli Act of 2019 or the Compassionate Retirement Act of 2019
This bill permits early distributions, without penalty, from tax-preferred pension plans to individuals diagnosed with a terminal illness (i.e., an illness or physical condition that can be reasonably expected to result in death seven years after diagnosis).
Introduced in Senate
Read twice and referred to the Committee on Finance.
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