S. 873 · 115th Congress
TSP Modernization Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PortmanSponsor4 cosponsors · 3 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the rules relating to withdrawals from the Thrift Saving Plan (TSP) accounts of former federal employees and Members of Congress. Under current law, such employees and Members may make only one partial withdrawal upon reaching age 59-1/2 while employed or one withdrawal after retirement.
What it does: CRS summary · Introduced in Senate · Apr 6, 2017
TSP Modernization Act of 2017
This bill modifies the rules relating to withdrawals from the Thrift Saving Plan (TSP) accounts of former federal employees and Members of Congress. Under current law, such employees and Members may make only one partial withdrawal upon reaching age 59-1/2 while employed or one withdrawal after retirement. The bill permits an unlimited number of such withdrawals.
The bill also eliminates: (1) the withdrawal election deadline (i.e., by April 1 of the year after the year in which the plan participant turns 70-1/2 or is separated from service); and (2) the limitation on age-based in-service withdrawals.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: TSP Modernization Act of 2017
Latest action (Nov 8, 2017): Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Apr 6, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.