[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2306 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 2306

To amend title 5, United States Code, to provide additional investment 
     funds for the Thrift Savings Plan, and to make the percentage 
 limitations on individual contributions to such Plan more consistent 
        with the dollar amount limitation on elective deferrals.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 12, 1995

 Mrs. Morella (for herself, Mr. Moran, Mr. Davis, Mr. Wolf, Mr. Frost, 
 Mr. Ackerman, Mr. Weldon of Pennsylvania, Mr. Petri, Ms. Norton, and 
 Mr. McCrery) introduced the following bill; which was referred to the 
              Committee on Government Reform and Oversight

_______________________________________________________________________

                                 A BILL


 
To amend title 5, United States Code, to provide additional investment 
     funds for the Thrift Savings Plan, and to make the percentage 
 limitations on individual contributions to such Plan more consistent 
        with the dollar amount limitation on elective deferrals.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Thrift Savings Plan 
Enhancement Act of 1995''.

SEC. 2. ADDITIONAL INVESTMENT FUNDS.

    (a) Definitions.--Subsection (a) of section 8438 of title 5, United 
States Code, is amended--
            (1) by redesignating paragraphs (5) through (8) as 
        paragraphs (6) through (9), respectively;
            (2) by inserting after paragraph (4) the following:
            ``(5) the term `International Stock Index Investment Fund' 
        means the International Stock Index Investment Fund established 
        under subsection (b)(1)(E);'';
            (3) by striking ``and'' at the end of paragraph (8) (as so 
        redesignated by paragraph (1));
            (4) in paragraph (9) (as so redesignated by paragraph 
        (1))--
                    (A) by striking ``paragraph (7)(D)'' each place it 
                appears and inserting ``paragraph (8)(D)''; and
                    (B) by striking the period and inserting ``; and''; 
                and
            (5) by adding at the end the following:
            ``(10) the term `Small Capitalization Stock Index 
        Investment Fund' means the Small Capitalization Stock Index 
        Investment Fund established under subsection (b)(1)(D).''.
    (b) Establishment of New Investment Funds.--
            (1) In general.--Paragraph (1) of section 8438(b) of such 
        title is amended--
                    (A) by striking ``and'' at the end of subparagraph 
                (B);
                    (B) by striking the period at the end of 
                subparagraph (C) and inserting a semicolon; and
                    (C) by adding at the end the following:
            ``(D) a Small Capitalization Stock Index Investment Fund as 
        provided in paragraph (3); and
            ``(E) an International Stock Index Investment Fund as 
        provided in paragraph (4).''.
            (2) Specific requirements.--Subsection (b) of section 8438 
        of such title is amended by adding at the end the following:
    ``(3)(A) The Board shall select an index which is a commonly 
recognized index comprised of common stock the aggregate market value 
of which represents the United States equity markets excluding the 
common stocks included in the Common Stock Index Investment Fund.
    ``(B) The Small Capitalization Stock Index Investment Fund shall be 
invested in a portfolio designed to replicate the performance of the 
index in subparagraph (A). The portfolio shall be designed such that, 
to the extent practicable, the percentage of the Small Capitalization
 Stock Index Investment Fund that is invested in each stock is the same 
as the percentage determined by dividing the aggregate market value of 
all shares of that stock by the aggregate market value of all shares of 
all stocks included in such index.
    ``(4)(A) The Board shall select an index which is a commonly 
recognized index comprised of stock the aggregate market value of which 
is a reasonably complete representation of the international equity 
markets excluding the United States equity markets.
    ``(B) The International Stock Index Investment Fund shall be 
invested in a portfolio designed to replicate the performance of the 
index in subparagraph (A). The portfolio shall be designed such that, 
to the extent practicable, the percentage of the International Stock 
Index Investment Fund that is invested in each stock is the same as the 
percentage determined by dividing the aggregate market value of all 
shares of that stock by the aggregate market value of all shares of all 
stocks included in such index.''.
    (c) Acknowledgement of Investment Risk.--Subsection (d) of section 
8439 of such title is amended--
            (1) by striking ``the Common Stock Index Investment Fund or 
        the Fixed Income Investment Fund described in paragraphs (1) 
        and (3), respectively, of section 8438(a) of this title'' and 
        inserting ``the Common Stock Index Investment Fund, the Fixed 
        Income Investment Fund, the International Stock Index 
        Investment Fund, or the Small Capitalization Stock Index 
        Investment Fund''; and
            (2) by striking ``either such Fund'' and inserting ``any 
        such Fund''.

SEC. 3. PERCENTAGE LIMITATIONS ON CONTRIBUTIONS.

    (a) Amendments Relating to FERS.--
            (1) In general.--Subsection (a) of section 8432 of such 
        title is amended by striking ``10 percent of''.
            (2) Justices and judges.--Subsection (b) of section 8440a 
        of such title is amended--
                    (A) by striking paragraph (2) and by redesignating 
                paragraphs (3) through (7) as paragraphs (2) through 
                (6), respectively; and
                    (B) in paragraph (6) (as so redesignated by 
                subparagraph (A)) by striking ``paragraphs (4) and 
                (5)'' and inserting ``paragraphs (3) and (4)''.
            (3) Bankruptcy judges and magistrates.--Subsection (b) of 
        section 8440b of such title is amended--
                    (A) by striking paragraph (2) and by redesignating 
                paragraphs (3) through (8) as paragraphs (2) through 
                (7), respectively;
                    (B) in paragraph (4) (as so redesignated by 
                subparagraph (A)) by striking ``paragraph (4)(A), (B), 
                or (C)'' and inserting ``paragraph (3)(A), (B), or 
                (C)''; and
                    (C) in paragraph (7) (as so redesignated by 
                subparagraph (A)) by striking ``Notwithstanding 
                paragraph (4),'' and inserting ``Notwithstanding 
                paragraph (3),''.
            (4) Court of federal claims judges.--Subsection (b) of 
        section 8440c of such title is amended--
                    (A) by striking paragraph (2) and by redesignating 
                paragraphs (3) through (8) as paragraphs (2) through 
                (7), respectively;
                    (B) in paragraph (4) (as so redesignated by 
                subparagraph (A)) by striking ``paragraph (4)(A) or 
                (B)'' and inserting ``paragraph (3)(A) or (B)''; and
                    (C) in paragraph (7) (as so redesignated by 
                subparagraph (A)) by striking ``Notwithstanding 
                paragraph (4),'' and inserting ``Notwithstanding 
                paragraph (3),''.
            (5) Judges of the united states court of veterans 
        appeals.--Paragraph (2) of section 8440d(b) of such title is 
        amended to read as follows:
    ``(2) For purposes of contributions made to the Thrift Savings 
Fund, basic pay does not include any retired pay paid pursuant to 
section 7296 of title 38.''.
    (b) Amendments Relating to CSRS.--Paragraph (2) of section 8351(b) 
of title 5, United States Code, is amended by striking ``5 percent 
of''.

SEC. 4. EFFECTIVE DATE.

    (a) In General.--The amendments made by this Act shall take effect 
on the date of the enactment of this Act.
    (b) Coordination With Election Periods.--The Executive Director 
shall by regulation determine--
            (1) the first election period in which elections may be 
        made with respect to the new investment funds established 
        pursuant to the amendments made by section 2; and
            (2) the first election period in which elections may be 
        made consistent with the amendments made by section 3.
    (c) Definitions.--For purposes of this section--
            (1) the term ``election period'' means a period afforded 
        under section 8432(b) of title 5, United States Code; and
            (2) the term ``Executive Director'' has the meaning given 
        such term by section 8401(13) of title 5, United States Code.
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