PENSION ACCRUED BENEFIT DISTRIBUTABLE WITHOUT CONSENT INCREASED TO $5,000.

SEC. 1071. PENSION ACCRUED BENEFIT DISTRIBUTABLE WITHOUT CONSENT INCREASED TO $5,000. (a) Amendment to 1986 Code.— (1) In general.—Subparagraph (A) of section 411(a)(11) (relating to restrictions on certain mandatory distributions) is amended by striking “$3,500” and inserting “$5,000”. (2) Conforming amendments.— (A) Section 411(a)(7)(B), paragraphs (1) and (2) of section 417(e), and section 457(e)(9) are each amended by striking “$3,500” each place it appears (other than the headings) and inserting “the dollar limit under section 411(a)(1l)(A)”. (B) The headings for paragraphs (1) and (2) of section 417(e) and subparagraph (A) of section 457(e)(9) are each amended by striking “$3,500” and inserting “dollar limit”. (b) Amendments to ERISA.— (1) In general.—Section 203(e)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1053(e)(1)) is amended by striking “$3,500” and inserting “$5,000”. (2) Conforming amendments.—Sections 204(d)(1) and 205(g) (1) and (2) (29 U.S.C. 1054(d)(1) and 1055(g) (1) and (2)) are each amended by striking “$3,500” and inserting “the dollar limit under section 203(e)(1)”. (c) Effective Date.—The amendments made by this section shall apply to plan years beginning after the date of the enactment of this Act.