This bill introduces new flexibility for retirement savers by amending the Internal Revenue Code to permit in-service rollovers . Specifically, it allows participants aged 50 or older to elect a direct rollover of all or a portion of their accrued benefit attributable to employer contributions from a 401(k) plan into an individual retirement annuity, even while still employed. Additionally, the legislation creates a safe harbor for the written explanations that plan administrators must furnish to participants concerning their distribution and rollover options. This safe harbor requires these explanations to be provided in concise, plain language , detailing critical information such as tax implications, withholding rules, eligible and non-eligible distributions, and the procedures for various rollover types. The overall goal is to enhance participant understanding of their retirement savings choices and streamline the rollover process. These amendments are slated to become effective for taxable years beginning after December 31, 2026.