CONGRESS FOR VOTERS

Mike Bost (R-IL)

TSP Modernization Act

H.R. 9214 · House bill Government Operations and Politics

A Republican bill with 2 Democratic cosponsors · See all 24 cosponsors

Last activity — Referred to the House Committee on Oversight and Government Reform.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the ``TSP Modernization Act'', aims to allow for the electronic transfer of funds from Thrift Savings Fund accounts to qualified retirement plans at brokerage firms. This provision would take effect one year after the Act is enacted. To facilitate these transfers, individuals must provide the necessary information to the Executive Director of the Federal Retirement Thrift Investment Board. Additionally, the Executive Director must submit a report to Congress regarding the implementation of these transfers. This report must be submitted one year after the Act is enacted, following consultation with the Secretary of the Treasury.

Yes· 3 of 4

  • Scored +7

    Would retired people be better off under this?

    Significantly simplifies the process of moving TSP funds to private brokerage accounts for retirement planning.

  • Scored +6

    Would people over 65 be better off under this?

    Benefits retirees by facilitating the electronic transfer of TSP funds to brokerage firms.

  • Scored +4

    Would people in middle age be better off under this?

    Provides federal employees and retirees with a more modern way to transfer retirement funds.

The opposite

No question was scored the opposite.