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Public Law115th CongressGovernment Operations and Politics
H.R. 3031Became Law

TSP Modernization Act of 2017

This bill became law

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What it doesSummary public law (Nov 17, 2017)


TSP Modernization Act of 2017

(Sec. 2) This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

What just happenedNov 17, 2017

Signed by President.

Who’s behind it

Rep. Cummings, Elijah E. [D-MD-7](D-MD)Sponsor
8 cosponsors6 D2 R
Read on Congress.gov
8cosponsors1committees22actions1related bills2subjects
  1. Nov 17, 2017President

    Signed by President.

  2. Nov 17, 2017BecameLaw36000

    Signed by President.

  3. Nov 8, 2017Floor

    Presented to President.

  4. Nov 8, 2017President28000

    Presented to President.

  5. Nov 7, 2017Floor

    Message on Senate action sent to the House.

  6. Nov 6, 2017Floor

    Passed Senate without amendment by Unanimous Consent. (consideration: CR S7029)

  7. Nov 6, 2017Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S7029)

  8. Oct 16, 2017IntroReferral

    Received in the Senate, read twice.

  9. Oct 11, 2017FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  10. Oct 11, 2017FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7954)

  11. Oct 11, 2017Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7954)

  12. Oct 11, 2017FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3031.

  13. Oct 11, 2017FloorH30000

    Considered under suspension of the rules. (consideration: CR H7954-7955)

  14. Oct 11, 2017FloorH30300

    Mr. Russell moved to suspend the rules and pass the bill, as amended.

  15. Oct 10, 2017CalendarsH12410

    Placed on the Union Calendar, Calendar No. 248.

  16. Oct 10, 2017CommitteeH12200

    Reported by the Committee on Oversight and Government Reform. H. Rept. 115-343.

    Oversight and Accountability Committee
  17. Oct 10, 2017Committee5000

    Reported by the Committee on Oversight and Government Reform. H. Rept. 115-343.

    Oversight and Accountability Committee
  18. Jul 19, 2017Committee

    Ordered to be Reported by Voice Vote.

    Oversight and Accountability Committee
  19. Jul 19, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Oversight and Accountability Committee
  20. Jun 23, 2017IntroReferralH11100

    Referred to the House Committee on Oversight and Government Reform.

    Oversight and Accountability Committee
  21. Jun 23, 2017IntroReferralIntro-H

    Introduced in House

  22. Jun 23, 2017IntroReferral1000

    Introduced in House

Public LawNov 17, 201749

TSP Modernization Act of 2017

(Sec. 2) This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

Passed Senate without amendmentNov 6, 201782

TSP Modernization Act of 2017

(Sec. 2) This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

Passed House amendedOct 11, 201736

TSP Modernization Act of 2017

(Sec. 2) This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

Reported to House without amendmentOct 10, 201779

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

TSP Modernization Act of 2017

This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

Introduced in HouseJun 23, 2017

TSP Modernization Act of 2017

This bill modifies the rules relating to withdrawals from the Thrift Savings Plan 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 automatic annuity as a default option if the plan participant does not make an election to establish an annuity, and (2) the limitation on age-based in-service withdrawals.

TSP Modernization Act of 2017 — Informed