to such employer under the plan, (B) transmitting contributions to the plan in accordance with the terms of the plan, (C) providing such information and assistance as is within the sole control of the eligible employer and is needed by the plan to operate in accordance with the plan document, and (D) providing such other information or assistance in accordance with regulations prescribed by the Secretary. . 7. Portability of lifetime income options (a) In general Subsection (a) of section 401 of the Internal Revenue Code of 1986 is amended by inserting after paragraph (37) the following new paragraph: (38) Portability of lifetime income and managed account options (A) In general A trust forming part of a defined contribution plan shall not be treated as failing to constitute a qualified trust under this section solely by reason of allowing— (i) qualified distributions of a lifetime income investment or a managed account investment, or (ii) distributions of a lifetime income investment in the form of a qualified plan distribution annuity contract, on or after the date that is 90 days prior to the date on which such lifetime income investment or such managed account investment is no longer authorized to be held as an investment option under the plan except as may otherwise be provided by regulations. (B) Definitions For purposes of this subsection— (i) the term qualified distribution means a direct trustee-to-trustee transfer to an eligible retirement plan (as defined in section 402(c)(8)(B)), as described in section 401(a)(31)(A), and in the case of a managed account investment, the eligible retirement plan must be maintained by the account manager of such managed account investment, (ii) the term lifetime income investment means an investment option that is designed to provide an employee with election rights— (I) that are not uniformly available with respect to other investment options under the plan, and (II) that are to a lifetime income feature available through a contract or other arrangement offered under