[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 1080 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                S. 1080

    To amend chapter 84 of title 5, United States Code, to provide 
        additional investment funds for the Thrift Savings Plan.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                July 27 (legislative day, July 10), 1995

   Mr. Stevens (for himself, Mr. Pryor, and Mr. Roth) introduced the 
 following bill; which was read twice and referred to the Committee on 
                          Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
    To amend chapter 84 of title 5, United States Code, to provide 
        additional investment funds for the Thrift Savings Plan.
    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 ``Thrift Savings Investment Funds Act 
of 1995''.

SEC. 2. ADDITIONAL INVESTMENT FUNDS FOR THE THRIFT SAVINGS PLAN.

    Section 8438 of title 5, United States Code, is amended--
            (1) in subsection (a)--
                    (A) by redesignating paragraphs (5) through (8) as 
                paragraphs (6) through (9), respectively;
                    (B) by inserting after paragraph (4) the following 
                new paragraph:
            ``(5) the term `International Stock Index Investment Fund' 
        means the International Stock Index Investment Fund established 
        under subsection (b)(1)(E);'';
                    (C) in paragraph (8) (as redesignated by 
                subparagraph (A) of this paragraph) by striking out 
                ``and'' at the end thereof;
                    (D) in paragraph (9) (as redesignated by 
                subparagraph (A) of this paragraph)--
                            (i) by striking out ``paragraph (7)(D)'' in 
                        each place it appears and inserting in each 
                        such place ``paragraph (8)(D)''; and
                            (ii) by striking out the period and 
                        inserting in lieu thereof a semicolon and 
                        ``and''; and
                    (E) by adding at the end thereof the following new 
                paragraph:
            ``(10) the term `Small Capitalization Stock Index 
        Investment Fund' means the Small Capitalization Stock Index 
        Investment Fund established under subsection (b)(1)(D).''; and
            (2) in subsection (b)--
                    (A) in paragraph (1)--
                            (i) in subparagraph (B) by striking out 
                        ``and'' at the end thereof;
                            (ii) in subparagraph (C) by striking out 
                        the period and inserting in lieu thereof a 
                        semicolon; and
                            (iii) by adding at the end thereof the 
                        following new subparagraphs:
                    ``(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).''; and
                    (B) by adding at the end thereof the following new 
                paragraphs:
            ``(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.''.

SEC. 3. ACKNOWLEDGEMENT OF INVESTMENT RISK.

    Section 8439(d) of title 5, United States Code, is amended by 
striking out ``Each employee, Member, former employee, or former Member 
who elects to invest in the Common Stock Index Investment Fund or the 
Fixed Income Investment Fund described in paragraphs (1) and (3),'' and 
inserting in lieu thereof ``Each employee, Member, former employee, or 
former Member who elects to invest in 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, defined in paragraphs (1), (3), (5), and (10),''.

SEC. 4. EFFECTIVE DATE.

    This Act shall take effect on the date of enactment of this Act, 
and the Funds established under this Act shall be offered for 
investment at the earliest practicable election period (described in 
section 8432(b) of title 5, United States Code) as determined by the 
Executive Director in regulations.
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