S. 2117 · 113th Congress
Smart Savings Act
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Passed the Senate without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 113th Congress ended.
D
WarrenSponsor4 cosponsors · 2 D, 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- Senate Introduced Mar 12, 2014
- Senate Passed Sep 16, 2014
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds.
What it does: CRS summary · Passed Senate amended · Sep 16, 2014
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the Uniformed Services. Requires TSP participants whose default fund is an age-appropriate L Fund to receive a risk acknowledgement before being enrolled to make TSP contributions.
Makes this Act: (1) effective on the date the Executive Director of the Federal Retirement Thrift Investment Board issues guidance for implementing this Act, and (2) applicable to individuals who enroll in the Thrift Savings Plan on or after such date.
Extends requirements relating to fiduciary protections to TSP beneficiaries.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Smart Savings Act
Latest action (Sep 17, 2014): Held at the desk.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Mar 12, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- Senate Introduced Mar 12, 2014
- Senate Passed Sep 16, 2014
No recorded floor vote found.