To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Oct 2, 2017

This bill amends the Internal Revenue Code to allow distributions from certain tax-favored employer-sponsored retirement plans if a lifetime income investment or managed account investment is no longer authorized to be held as an investment option under the plan.

If a lifetime income or managed account investment is no longer authorized to be held as an investment option under the plan, the bill allows: (1) qualified distributions of a lifetime income investment or a managed account investment, or (2) distributions of a lifetime income investment in the form of a qualified plan distribution annuity contract.

A "qualified distribution" is a direct trustee-to-trustee transfer to an eligible retirement plan. A "qualified plan distribution annuity contract" is an annuity contract purchased for a participant and distributed to the participant by an employer-sponsored retirement plan.

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People & committees

Who introduced it

Rep. Neal, Richard E. [D-MA-1] · D–MA

Committees

Ways and Means Committee

1 cosponsorship records, including any withdrawals

Rep. Bishop, Mike [R-MI-8]

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Oct 2, 2017
Referred to the House Committee on Ways and Means.
Oct 2, 2017
Introduced in House
Oct 2, 2017
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Oct 2, 2017 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.3910 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.3910, 115th Congress: To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Official record: https://www.congress.gov/bill/115th-congress/house-bill/3910

Text version to examine: Introduced in House · 2017-10-02.

Official full text: https://www.congress.gov/115/bills/hr3910/BILLS-115hr3910ih.htm

Imported record last updated by the source: 2025-01-03T00:58:44Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.3910 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.3910 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.3910, 115th Congress: To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Official record: https://www.congress.gov/bill/115th-congress/house-bill/3910

Text version to examine: Introduced in House · 2017-10-02.

Official full text: https://www.congress.gov/115/bills/hr3910/BILLS-115hr3910ih.htm

Imported record last updated by the source: 2025-01-03T00:58:44Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3910 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.3910 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.3910, 115th Congress: To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Official record: https://www.congress.gov/bill/115th-congress/house-bill/3910

Text version to examine: Introduced in House · 2017-10-02.

Official full text: https://www.congress.gov/115/bills/hr3910/BILLS-115hr3910ih.htm

Imported record last updated by the source: 2025-01-03T00:58:44Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3910 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.3910 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.3910, 115th Congress: To amend the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable.

Official record: https://www.congress.gov/bill/115th-congress/house-bill/3910

Text version to examine: Introduced in House · 2017-10-02.

Official full text: https://www.congress.gov/115/bills/hr3910/BILLS-115hr3910ih.htm

Imported record last updated by the source: 2025-01-03T00:58:44Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3910 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.