S 873
115th Congress
Senate
Government Operations and Politics
Employee benefits and pensions
Government employee pay, benefits, personnel management
TSP Modernization Act of 2017
Introduced: April 6, 2017
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 8, 2017
Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.
Nov 8, 2017
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment. With written report No. 115-183.
Jul 26, 2017
Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.
Apr 6, 2017
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Apr 6, 2017
Introduced in Senate
Plain-English summary
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.
What's happening now
Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.
Committees of jurisdiction
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