TSP Modernization Act

This bill would allow people to move money electronically from their Thrift Savings Fund account, the retirement savings plan for federal employees and service members, to a qualified retirement plan at a brokerage firm. This would apply only where such a transfer is already allowed, and it would begin one year after the bill becomes law. The transfer could not happen until the account holder gives the Federal Retirement Thrift Investment Board's Executive Director the information needed to complete it. One year after enactment, the Executive Director, working with the Secretary of the Treasury, would have to report to Congress on how the change has been put in place.

Full text and official record on Congress.gov

Sponsors

• Mike Bost Republican sponsor
• 24 cosponsors