H.R.3031 – TSP Modernization Act of 2017

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Week ending October 13, 2017

H.R.3031 – TSP Modernization Act of 2017

Brief

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

HOUSE

On Passage: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote

House Amendments:

Motion to recommit:

Text of the motion:

SENATE

On Passage:

Procedural Actions:

Senate Amendments:

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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