; and (C) amend Q&A–14(e)(3) of 26 C.F.R. section 1.401(a)(9)–6 to provide that the total future expected payments under a commercial annuity are determined using the tables or other actuarial assumptions that the issuer of the contract actually uses in pricing the premiums and benefits with respect to the contract, provided that such tables or other actuarial assumptions are reasonable. (2) Enforcement As of the date of enactment of this Act, the Secretary of the Treasury shall administer and enforce the law in accordance with subsections (a) and (b) with respect to taxable years beginning before, on, or after the date of enactment of this Act. (c) Effective date This section shall take effect as of the date of enactment of this Act. III Simplification and Clarification of Qualified Retirement Plan Rules 301. Exception from required distributions where aggregate retirement savings do not exceed $250,000 (a) In general Section 401(a)(9) of the Internal Revenue Code of 1986, as amedended by sections 111 and 204, is further amended by adding at the end the following new subparagraph: (J) Exception from required minimum distributions during life of employee or beneficiary where assets do not exceed $250,000 (i) In general If, as of a measurement date, the aggregate value of the entire interest of an employee under all applicable eligible retirement plans does not exceed $250,000, then, during any succeeding calendar year beginning before the next measurement date— (I) the requirements of subparagraph (A) shall not apply to the employee, and (II) the requirements of subparagraph (B) shall not apply to the employee’s designated beneficiary with respect to the designated beneficiary’s interest in the interest of the deceased employee. (ii) Applicable eligible retirement plan For purposes of this subparagraph, the term applicable eligible retirement plan means an eligible retirement plan (as defined in section 402(c)(8)(B)) and any other plan, contract, or arrangement to which the requirements of this paragraph apply.