To amend the Internal Revenue Code of 1986 to provide for in-service rollovers for individual retirement annuity purchases.

Bill 118 hr 10467, also known as the "In-Service Rollover for Individual Retirement Annuity Purchases Act," aims to amend the Internal Revenue Code of 1986 to allow for in-service rollovers for individual retirement annuity purchases.

Currently, individuals are limited in their ability to rollover funds from their retirement accounts while still employed. This bill seeks to change that by allowing individuals to rollover funds from their retirement accounts to purchase individual retirement annuities while still working.

The purpose of this legislation is to provide individuals with more flexibility and options when it comes to managing their retirement savings. By allowing in-service rollovers for individual retirement annuity purchases, individuals will have the opportunity to diversify their retirement savings and potentially increase their retirement income. Overall, this bill aims to empower individuals to make informed decisions about their retirement savings and provide them with more control over their financial future.