by this Act, is further amended by adding at the end the following new subparagraph: (K) Exception from required minimum distributions during life of employee or beneficiary where assets do not exceed $100,000 (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 $100,000, then, with respect to any applicable eligible retirement plan of the employee, 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, but does not include any defined benefit plan. (iii) Measurement date (I) Initial measurement dates The initial measurement date for an employee is the last day of the calendar year preceding the earlier of— (aa) the calendar year in which the employee attains the applicable age, or (bb) the calendar year in which the employee dies. (II) Subsequent measurement dates If, in a calendar year, an employee to whom subparagraph (A) or (B) does not apply by reason of clause (i) receives contributions, rollovers, or transfers of amounts which were not previously taken into account in applying this subparagraph, then the last day of that calendar year shall be a new measurement date and a new determination shall be made as to whether clause (i) applies to such employee. (III) Special rule In the case of an employee who receives account statements at least annually with respect to a plan, the value of the employee's interest in such plan