To amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.

Summary

The proposal adds a new tax rule so that when a retiree 70½ or older directs a qualified employer‑sponsored retirement plan to give money straight to a charity, that amount is not counted as taxable income. It covers traditional plans, SEPs, SIMPLEs, 403(b) and 457(b) plans and would apply to tax years after the law is enacted. The goal is to encourage charitable giving by reducing the tax cost for older workers.

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