Week ending October 13, 2017
H.R.3031 – TSP Modernization Act of 2017
The bill would amend title 5, United States Code, to provide for flexibility in making withdrawals from a Thrift Savings Plan account, and for other purposes.
Limitation on return of payment relating to a change in election — Except that in the case of an election to receive an annuity, a former employee or Member may not change an election…on or after the date on which an annuity contract is purchased to provide for the annuity elected by the former employee or Member.
As soon as is practicable, as determined by the Executive Director of the Federal Retirement Thrift Investment Board, the Executive Director shall prescribe such regulations as are necessary to carry out the amendments made by this bill. The amendments made by this bill shall take effect on the date on which the regulations prescribed by the executive directors take effect.
(Full text of H.R. 3031 congress.gov)
Sponsor: Rep. Cummings, Elijah E. [D-MD-7] (Introduced 06/23/2017)
Status: Passed House /
VOTES and FLOOR ACTION
On Passage: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote
Motion to recommit:
Text of the motion:
COST AND IMPACT
Cost to the taxpayers: Data not available
Pay-as-you-go requirements: Data not available
Regulatory and Other Impact: Data not available
Dynamic Scoring: Data not available
Tax Complexity: Not applicable to this bill.
Earmark Certification: Data not available
Duplication of programs: Data not available
Direct Rule-Making: Data not available
Advisory Committee Statement: Data not available
Budget Authority: Data not available
Constitutional Authority: Assumed.
More Bill Information:
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