HR 1263 · 111th Congress · Government Operations and Politics

Federal Retirement Reform Act of 2009

Introduced 2009-03-03· Sponsored by Rep. Lynch, Stephen F. [D-MA-9]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Ways and Means(2009-03-03)

Plain Language Summary

[AI summary unavailable — showing source text] Federal Retirement Reform Act of 2009 - Thrift Savings Plan Enhancement Act of 2009 - Requires the Federal Retirement Thrift Investment Board to provide for: (1) automatic enrollment in the Thrift Savings Plan (TSP) at a specified default percentage (between 2% and 5%) of basic pay of anyone appointed, transferred, or reappointed to a position in which that individual is eligible to contribute to TSP; (2) the inclusion in TSP of a qualified Roth contribution program and (3) the addition of a self-directed investment window under TSP, if it would be in the best interests of participants, limited to low-cost, passively-managed index funds that offer diversification. Requires the total service of an employee who retires eligible for an annuity under the Federal Employees' Retirement System (FERS) or who dies leaving a survivor entitled to benefits, to include the employee's days of unused sick leave for annuity computation purposes. Exempts a federal employee's part-time service performed before April 7, 1986, from proration requirements for purposes of annuity computation under the Civil Service Retirement System (CSRS). District of Columbia Court, Offender Supervision, Parole, and P…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (5)

4 Democrats1 Republican