Subparagraph (B) of section 457(e)(15) of such Code is amended— (A) by striking $15,000 and inserting $25,000 , (B) by striking December 31, 2006 and inserting December 31, 2020 , and (C) by striking July 1, 2005 and inserting July 1, 2019 . (c) Employed individual 401 (k) s Subsection (k) of section 401 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (15) Employed individual arrangement (A) In general A cash or deferred arrangement shall not be treated as failing to meet any requirement of this subsection solely because, under the arrangement, an employee may elect to make additional elective deferrals which are not subject to, and are not taken into account under, paragraph (3) to a separate account from other contributions made on behalf of the employee under the arrangement, if— (i) all employees eligible to participate in the arrangement are eligible to make such election, (ii) the aggregate of all elective deferrals made by the employee under the arrangement does not exceed the limitation of section 402(g), and (iii) no matching or nonelective contributions may be made to such account or with respect to elective deferrals contributed to such account. (B) Distribution, etc. rules to apply The rules of this subsection, other than paragraph (3), shall apply to any account established under subparagraph (A). (C) Elective deferral For purposes of this paragraph, the term elective deferral means any employer contribution under a qualified cash or deferred arrangement to the extent not includible in gross income for the taxable year under section 402(e)(3) (determined without regard to section 402(g)). . (d) Effective date The amendments made by this section shall apply to contributions made in taxable years beginning after the date of the enactment of this Act.