3.0.0 2479 2023-01-15T04:49:07Z 2023-01-15T04:49:07Z Senate S S 2004-05-21 108 hsgo00 Oversight and Accountability Committee House Standing Referred to 2004-07-19T22:45:37Z ssga00 Homeland Security and Governmental Affairs Committee Senate Standing ssga09 Federal Financial Management, Government Information, Federal Services, and International Security Subcommittee Referred to 2004-05-21T18:08:17Z Reported by 2004-06-25T16:09:20Z Markup by 2004-06-02T21:03:32Z Referred to 2004-05-21T17:44:24Z S. Rept. 108-290 2004-07-19 Referred to the House Committee on Government Reform. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2004-07-19 12:31:26 Received in the House. Floor H14000 2 House floor actions 2004-07-19 Senate Message on Senate action sent to the House. Floor 2004-07-16 Senate Passed Senate without amendment by Unanimous Consent. (consideration: CR S8400; text: CR S8400) Floor 2004-07-16 Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S8400; text: CR S8400) Floor 17000 9 Library of Congress 2004-06-25 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 606. Calendars 2004-06-25 ssga00 Homeland Security and Governmental Affairs Committee Senate Committee on Governmental Affairs. Reported by Senator Collins without amendment. With written report No. 108-290. Committee 2004-06-25 Committee on Governmental Affairs. Reported by Senator Collins without amendment. With written report No. 108-290. Committee 14000 9 Library of Congress ssga00 Homeland Security and Governmental Affairs Committee 2004-06-02 ssga00 Homeland Security and Governmental Affairs Committee Senate Committee on Governmental Affairs. Ordered to be reported without amendment favorably. Committee 2004-05-21 ssga09 Federal Financial Management, Government Information, Federal Services, and International Security Subcommittee Senate Committee on Governmental Affairs referred to Subcommittee on Financial Management, the Budget, and International Security. Committee 2004-05-21 ssga00 Homeland Security and Governmental Affairs Committee Senate Read twice and referred to the Committee on Governmental Affairs. IntroReferral 2004-05-21 Sponsor introductory remarks on measure. (CR S6105-6106) IntroReferral B00100 9 Library of Congress 2004-05-21 Introduced in Senate IntroReferral 10000 9 Library of Congress C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. N A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA 2004-05-21 True F000442 Sen. Fitzgerald, Peter [R-IL] PETER FITZGERALD R IL 2004-05-21 True L000304 Sen. Lieberman, Joseph I. [D-CT] JOSEPH LIEBERMAN D CT I. 2004-05-21 True V000126 Sen. Voinovich, George V. [R-OH] GEORGE VOINOVICH R OH V. 2004-05-21 True 2004-06-17T04:00:00Z S. 2479, Thrift Savings Plan Open Elections Act of 2004 http://www.cbo.gov/publication/15738 <p>Cost estimate for the bill as ordered reported by the Senate Committee on Governmental Affairs on June 2, 2004</p> 2004-06-17T04:00:00Z S. 2479, Thrift Savings Plan Open Elections Act of 2004 https://www.cbo.gov/publication/15738 Cost estimate for the bill as ordered reported by the Senate Committee on Governmental Affairs on June 2, 2004 Government Operations and Politics Civil service retirement Congress Congressional pensions Congressional reporting requirements Federal employees Finance and Financial Sector Financial planning Financial services Government publicity Labor and Employment Personal budgets Retirement income Saving and investment Tax-deferred compensation plans Government Operations and Politics 00 2004-05-21 Introduced in Senate 2004-09-21T14:43:36Z Thrift Savings Plan Open Elections Act of 2004 - Allows an election by a Federal employee or member to make contributions under the Thrift Savings Plan (TSP) of the Federal Employees' Retirement System to be made at any time. Provides that such an election shall take effect on the earliest date after the election that is administratively feasible and shall remain in effect until modified or terminated. Prohibits agency contributions from beginning to be made for an employee or member until the date that such contributions would have begun to be made in accordance with regulations as administered on the date preceding the enactment of this Act.

Instructs the Federal Retirement Thrift Investment Board to: (1) periodically evaluate whether the tools available to participants provide the information needed to understand, evaluate, and compare financial products, services, and opportunities offered through the TSP; (2) use these evaluations to improve its existing program for TSP participants; and (3) annually report on its TSP education efforts on behalf of plan participants.

Directs the Office of Personnel Management (OPM), as part of the retirement training offered by OPM, to develop and implement a retirement financial literacy and education strategy for Federal employees that: (1) educates Federal employees on the need for retirement savings and investment; and (2) provides information related to how Federal employees can receive additional information on how to plan for retirement and calculate what their retirement investment should be in order to meet their retirement goals.

]]> 80 2004-06-25 Reported to Senate without amendment 2004-09-21T15:01:35Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Thrift Savings Plan Open Elections Act of 2004 - Allows an election by a Federal employee or member to make contributions under the Thrift Savings Plan (TSP) of the Federal Employees' Retirement System to be made at any time. Provides that such an election shall take effect on the earliest date after the election that is administratively feasible and shall remain in effect until modified or terminated. Prohibits agency contributions from beginning to be made for an employee or member until the date that such contributions would have begun to be made in accordance with regulations as administered on the date preceding the enactment of this Act.

Instructs the Federal Retirement Thrift Investment Board to: (1) periodically evaluate whether the tools available to participants provide the information needed to understand, evaluate, and compare financial products, services, and opportunities offered through the TSP; (2) use these evaluations to improve its existing program for TSP participants; and (3) annually report to the Committee on Governmental Affairs of the Senate and the Committee on Government Reform of the House of Representatives on its TSP education efforts on behalf of plan participants.

Directs the Office of Personnel Management (OPM), as part of the retirement training offered by OPM, to: (1) develop and implement a retirement financial literacy and education strategy for Federal employees that educates Federal employees on the need for retirement savings and investment and that provides information related to how Federal employees can receive additional information on how to plan for retirement and calculate what their retirement investment should be in order to meet their retirement goals; and (2) submit a report on such strategy to such committees.

]]> 82 2004-07-16 Passed Senate without amendment 2004-09-21T15:06:54Z (This measure has not been amended since it was introduced. The expanded summary of the Senate reported version is repeated here.)

Thrift Savings Plan Open Elections Act of 2004 - Allows an election by a Federal employee or member to make contributions under the Thrift Savings Plan (TSP) of the Federal Employees' Retirement System to be made at any time. Provides that such an election shall take effect on the earliest date after the election that is administratively feasible and shall remain in effect until modified or terminated. Prohibits agency contributions from beginning to be made for an employee or member until the date that such contributions would have begun to be made in accordance with regulations as administered on the date preceding the enactment of this Act.

Instructs the Federal Retirement Thrift Investment Board to: (1) periodically evaluate whether the tools available to participants provide the information needed to understand, evaluate, and compare financial products, services, and opportunities offered through the TSP; (2) use these evaluations to improve its existing program for TSP participants; and (3) annually report to the Committee on Governmental Affairs of the Senate and the Committee on Government Reform of the House of Representatives on its TSP education efforts on behalf of plan participants.

Directs the Office of Personnel Management (OPM), as part of the retirement training offered by OPM, to: (1) develop and implement a retirement financial literacy and education strategy for Federal employees that educates Federal employees on the need for retirement savings and investment and that provides information related to how Federal employees can receive additional information on how to plan for retirement and calculate what their retirement investment should be in order to meet their retirement goals; and (2) submit a report on such strategy to such committees.

]]> Thrift Savings Plan Open Elections Act of 2004 Display Title Thrift Savings Plan Open Elections Act of 2004 Official Title as Introduced A bill to amend chapter 84 of title 5, United States Code, to provide for Federal employees to make elections to make, modify, and terminate contributions to the Thrift Savings Fund at any time, and for other purposes. Introduced in Senate IS Short Titles as Introduced Thrift Savings Plan Open Elections Act of 2004 Short Titles as Reported to Senate Thrift Savings Plan Open Elections Act of 2004 S Senate Short Titles as Passed Senate Thrift Savings Plan Open Elections Act of 2004 S Senate Referred in House 2004-07-19T04:00:00Z Engrossed in Senate 2004-07-16T04:00:00Z Reported to Senate 2004-06-25T04:00:00Z Introduced in Senate 2004-05-21T04:00:00Z 2004-07-19 Referred to the House Committee on Government Reform. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.