SENATE 1889117th CongressRead twice and referred to the Committee on Finance.

Kathryn Manginelli Act of 2021

Last Action: 5/27/2021

Actions

2021-05-27Read twice and referred to the Committee on Finance.
2021-05-27Introduced in Senate

CRS Summary

As of 2021-05-27 (00)

Kathryn Manginelli Act of 2021 or the Compassionate Retirement Act of 2021

This bill allows premature distributions, without penalty, from tax-exempt retirement plans that are made to an individual who is certified by a physician as terminally ill. It also modifies the definition of terminally ill individual to increase from 24 to 84 the number of months after certification that an individual's illness can reasonably be expected to result in death.

Cosponsors (2)

Michael Bennet (D-CO)
Chris Van Hollen (D-MD)

Subjects

Employee benefits and pensions
Income tax deferral
Income tax exclusion
Long-term, rehabilitative, and terminal care

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