; and (2) report the results of such study to the Committee on Finance of the Senate and the Committee on the Ways and Means of the House of Representatives. If the study under paragraph (1) determines that such loans, after implementation of the restrictions imposed by the amendment made by subsection (a), result in greater usage of retirement savings for purposes other than funding retirement than loans made by other means, the report under paragraph (2) shall include recommendations to reduce such result. 111. 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 (A) In general Except as may be otherwise provided by regulations, 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 (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 is no longer authorized to be held as an investment option under the plan. (B) Definitions For purposes of this subsection— (i) the term qualified distribution means a direct trustee-to-trustee transfer described in paragraph (31)(A) to an eligible retirement plan (as defined in section 402(c)(8)(B)), (ii) the term lifetime income investment means an investment option which is designed to provide an employee with election rights— (I) which are not uniformly available with respect to other investment options under the plan, and (II) which are to a lifetime income feature available through a contract or other arrangement offered under the plan (or under another eligible retirement plan (as so defined), if paid by means of a direct trustee-to-trustee transfer described in paragraph