House Takes On TSP Modernization With a Bipartisan Companion Bill
House takes on TSP modernization with a bipartisan companion bill
Participants in the Thrift Savings Plan are one small step closer to getting more options with the TSP.
House Oversight and Government Reform Committee Ranking Member Elijah Cummings (D-Md.) and Government Operations Subcommittee Chairman Mark Meadows (R-N.C.) introduced the TSP Modernization Act of 2017.
It’s the companion bill to the legislation Sens. Tom Carper (D-Del.) and Rob Portman (R-Ohio) introduced in April.
The legislation would let federal retirees make multiple age-based and post-separation withdrawals from the TSP. Under current law, participants in federal service can make only one withdrawal from the TSP upon reaching age 59-and-a-half. TSP participants who …