Smart Savings Act 2014-09-16 Passed Senate amended Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the Uniformed Services. Requires TSP participants whose default fund is an age-appropriate L Fund to receive a risk acknowledgement before being enrolled to make TSP contributions.

Makes this Act: (1) effective on the date the Executive Director of the Federal Retirement Thrift Investment Board issues guidance for implementing this Act, and (2) applicable to individuals who enroll in the Thrift Savings Plan on or after such date.

Extends requirements relating to fiduciary protections to TSP beneficiaries.

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2014-07-31 Reported to Senate without amendment (This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the uniformed services. Requires TSP participants whose default fund is an age-appropriate L Fund to sign a risk acknowledgement before beginning TSP contributions.

]]> 2014-03-12 Introduced in Senate Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the uniformed services. Requires TSP participants whose default fund is an age-appropriate L Fund to sign a risk acknowledgement before beginning TSP contributions.

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