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

12/19/2024, 9:07 AM

Summary of Bill HR 10467

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.

Current Status of Bill HR 10467

Bill HR 10467 is currently in the status of Bill Introduced since December 18, 2024. Bill HR 10467 was introduced during Congress 118 and was introduced to the House on December 18, 2024.  Bill HR 10467's most recent activity was Referred to the House Committee on Ways and Means. as of December 18, 2024

Bipartisan Support of Bill HR 10467

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 10467

Primary Policy Focus

Alternate Title(s) of Bill HR 10467

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

Comments

Sponsors and Cosponsors of HR 10467

Jimmy Panetta
Jimmy Panetta
CaliforniaDemocrat
Darin LaHood
Darin LaHood
IllinoisRepublican

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