This bill aims to curb the accumulation of excessively large retirement account balances by high-income taxpayers and accelerate the distribution of those funds. It introduces two primary mechanisms to achieve this: a new contribution limit for individual retirement plans and increased minimum required distributions. First, the bill establishes a new contribution limit for individual retirement plans (IRAs) for "applicable taxpayers." An applicable taxpayer is defined as an individual whose modified adjusted gross income exceeds certain thresholds (e.g., $450,000 for married filing jointly) in the preceding year. If such a taxpayer's aggregate vested balance across all applicable retirement plans exceeds $10,000,000 at the end of the prior calendar year, their ability to make further contributions to IRAs is restricted. Any contributions exceeding this new limit will be subject to an excise tax. Second, the legislation mandates increased minimum required distributions (MRDs) for these high-income taxpayers with large account balances. If an applicable taxpayer's total retirement account balance surpasses $10,000,000 , their annual MRDs will be significantly increased. Specifically, the increased distribution amount is calculated based on the excess balance over $10,000,000, with a portion potentially coming from Roth accounts if balances exceed $20,000,000. To facilitate these increased distributions, qualified defined contribution plans, 403(b) accounts, and 457(b) governmental plans must allow affected taxpayers to elect immediate distributions. These mandatory distributions are exempt from the 10% additional tax on early withdrawals, but they will be subject to a 37% withholding rate, with no option to elect out of withholding, except for qualified Roth distributions. Both the contribution limits and the income/balance thresholds are subject to inflation adjustments. The contribution limits for individual retirement plans take effect for taxable years beginning after December 31, 2026. The provisions for increased minimum required distributions and the associated plan requirements will apply to taxable years and plan years beginning after December 31, 2033.