To amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.

This bill imposes new limits on retirement contributions and increases required minimum distributions for high-income individuals who already have large retirement account balances. It directly affects taxpayers whose modified adjusted gross income exceeds specific thresholds, such as $450,000 for married couples filing jointly, and whose total retirement savings surpass $10 million. Under the bill, these individuals would be restricted from making new contributions to their retirement plans once their existing balances reach the specified limit, and they would be required to withdraw larger amounts annually from their accounts. The legislation also mandates that retirement plans offer these high-balance account holders the option to take partial distributions and requires higher withholding rates on those withdrawals. These rules are designed to ensure that those with substantial retirement savings contribute less to the system and access their funds sooner, with provisions applying to taxable years beginning after 2026.