H.R. 3078 · 113th Congress
Roth IRA Flexibility Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SmithSponsorNo cosponsors.
Roth IRA Flexibility Act of 2013 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act with respect to the formula for reductions in the income-based subsidy for premiums under Medicare parts B and D (Voluntary Prescription Drug Benefit Program).
What it does: CRS summary · Introduced in House · Sep 10, 2013
Roth IRA Flexibility Act of 2013 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act with respect to the formula for reductions in the income-based subsidy for premiums under Medicare parts B and D (Voluntary Prescription Drug Benefit Program). Disregards, in computing adjusted gross income in that formula, any amounts transferred from a traditional individual retirement account (IRA) to a Roth IRA.
Amends the Internal Revenue Code to authorize the use of tax return information involving such amounts for disclosure to carry out those subsidy adjustments.
Directs the Secretary of Health and Human Services (HHS), in collaboration with the Commissioner of Social Security, to refund to an individual the portion of premiums paid under Medicare parts B and D equal to the difference between the premiums paid and the premiums the individual would have paid if any rollovers to a Roth IRA from an eligible non-Roth IRA retirement plan made on or after January 1, 2011, had not been taken into account.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Roth IRA Flexibility Act of 2013
Latest action (Sep 13, 2013): Referred to the Subcommittee on Health.
Policy area: Health · Origin: House · Introduced: Sep 10, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.