TSP Modernization Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary 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.
What just happenedNov 8, 2017
Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.
Who’s behind it
- Reported to SenateNov 8, 2017
- Introduced in SenateApr 6, 2017
- Nov 8, 2017Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.
- Nov 8, 2017Committee
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment. With written report No. 115-183.
Homeland Security and Governmental Affairs Committee - Nov 8, 2017Committee14000
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment. With written report No. 115-183.
Homeland Security and Governmental Affairs Committee - Jul 26, 2017Committee
Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.
Homeland Security and Governmental Affairs Committee - Apr 6, 2017IntroReferral
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Homeland Security and Governmental Affairs Committee - Apr 6, 2017IntroReferral10000
Introduced in Senate