inserting (including an employee described in section 414(e)(3)(B)) after employee described in paragraph (1) . (b) Effective date The amendment made by this section shall apply to plan years beginning after December 31, 2008. 109. Exemption from required minimum distribution rules for individuals with certain account balances (a) In general Section 401(a)(9) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (H) Exception from required minimum distributions during life of employee where assets do not exceed $50,000 (i) In general If on the last day of any calendar year the aggregate value of an employee’s entire interest under all applicable eligible retirement plans does not exceed $50,000, then the requirements of subparagraph (A) with respect to any distribution relating to such year shall not apply with respect to such 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)) other than a defined benefit plan. (iii) Limit on required minimum distribution The required minimum distribution determined under subparagraph (A) for an employee under all applicable eligible retirement plans shall not exceed an amount equal to the excess of— (I) the aggregate value of an employee’s entire interest under such plans on the last day of the calendar year to which such distribution relates, over (II) the dollar amount in effect under clause (i) for such calendar year. The Secretary in regulations or other guidance may provide how such amount shall be distributed in the case of an individual with more than one applicable eligible retirement plan. (iv) Inflation adjustment In the case of any calendar year beginning after 2019, the $50,000 amount in clause (i) shall be increased by an amount equal to— (I) such dollar amount, multiplied by (II) the cost of living adjustment determined under section 1(f)(3) for the calendar year,