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S. 4511119th CongressIn committeeLatest action May 13, 2026Decoded by AI · checked against the record
Official title: A bill to amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
People 70½+ could donate directly from workplace retirement accounts to charity, tax-free, up to $105,000 a year.
40-second read · 4 questions answered below
This bill would extend an existing tax break to workplace retirement accounts like 401(k)s, 403(b)s, 457(b)s, SEPs, and SIMPLE plans. Right now, that tax break only covers IRAs. Donations must go directly to a qualifying public nonprofit, and the limit is $105,000 per year as of 2026.
People age 70½ or older with money in a workplace retirement plan would be directly affected. Employers and plan administrators would also need to set up a way to send funds directly to charities, which most plans do not currently do.
Retirees who kept money in a workplace plan instead of an IRA would gain the same option that IRA holders already have. Donor-advised funds and private foundations would still not qualify, just as they are excluded under the current IRA rule.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.