[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4324 Enrolled Bill (ENR)]

        H.R.4324

                       One Hundred Eighth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

          Begun and held at the City of Washington on Tuesday,
           the twentieth day of January, two thousand and four


                                 An Act


 
   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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ELECTIONS FOR THRIFT SAVINGS PLAN CONTRIBUTIONS.

    (a) Short Title.--This Act may be cited as the ``Thrift Savings 
Plan Open Elections Act of 2004''.
    (b) In General.--Section 8432(b)(1)(A) of title 5, United States 
Code, is amended--
        (1) in the first sentence--
            (A) by inserting ``(i)'' before ``The Executive Director''; 
        and
            (B) by striking ``shall be afforded a reasonable period 
        every 6 months to elect to'' and inserting ``may'';
        (2) by striking the second sentence; and
        (3) by adding at the end the following:
    ``(ii) An election to make contributions under this paragraph--
        ``(I) may be made at any time;
        ``(II) shall take effect on the earliest date after the 
    election that is administratively feasible; and
        ``(III) shall remain in effect until modified or terminated.''.
    (c) Continuation of not Making Immediate Agency Contributions.--
Section 8432(b)(4)(C) of title 5, United States Code, is amended--
        (1) by inserting ``(i)'' after ``(C)''; and
        (2) by adding at the end the following:
        ``(ii) Notwithstanding subparagraph (A) or (B), contributions 
    under paragraphs (1) and (2) of subsection (c) shall not begin to 
    be made with respect to an employee or Member described under 
    paragraph (2)(A) or (B) until the date that such contributions 
    would have begun to be made in accordance with this paragraph as 
    administered on the date preceding the date of enactment of the 
    Thrift Savings Plan Open Elections Act of 2004.''.
    (d) Technical and Conforming Amendments.--
        (1) Civil service retirement system participation.--Section 
    8351(a)(2) of title 5, United States Code, is amended by striking 
    ``only during a period'' and inserting ``as''.
        (2) Contributions by previously ineligible employees.--Section 
    8432(b)(2) of title 5, United States Code, is amended--
            (A) in subparagraph (A), by striking ``second period'' and 
        inserting ``date'';
            (B) in subparagraph (C), by striking ``second period'' and 
        inserting ``date''; and
            (C) in subparagraph (D) by striking ``other than during a 
        period afforded'' and inserting ``as provided''.
        (3) Provision of information.--Section 8439(c)(2) of title 5, 
    United States Code, is amended by striking ``at least 30 calendar 
    days before the beginning of each election period under section 
    8432(b)(1)(A) of this title'' and inserting ``on a regular basis''.
        (4) Justices and judges.--Section 8440a(a)(2) of title 5, 
    United States Code, is amended by striking ``only during a period'' 
    and inserting ``as''.
        (5) Bankruptcy judges and magistrate judges.--Section 
    8440b(a)(2) of title 5, United States Code, is amended by striking 
    ``only during a period'' and inserting ``as''.
        (6) Court of federal claims judges.--Section 8440c(a)(2) of 
    title 5, United States Code, is amended by striking ``only during a 
    period'' and inserting ``as''.
        (7) Judges of the united states court of appeals for veterans 
    claims.--Section 8440d(a)(2) of title 5, United States Code, is 
    amended by striking ``only during a period'' and inserting ``as''.
        (8) Members of the uniformed services.--Section 8440e(b)(2)(A) 
    of title 5, United States Code, is amended--
            (A) by striking ``only during a period'' and inserting 
        ``as''; and
            (B) by striking all after section ``8432(b)'' and inserting 
        a period.

SEC. 2. ENHANCING FINANCIAL LITERACY.

    (a) In General.--The Federal Retirement Thrift Investment Board (in 
this section referred to as the ``Board'') shall 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 Thrift Savings Plan. 
The Board shall use these evaluations to improve its existing education 
program for Thrift Savings Plan participants.
    (b) Report on Financial Literacy Efforts.--The Board shall annually 
report to the Committee on Governmental Affairs of the Senate and the 
Committee on Government Reform of the House of Representatives on its 
Thrift Savings Plan education efforts on behalf of plan participants.
    (c) Strategy.--As part of the retirement training offered by Office 
of Personnel Management under section 8350 of title 5, United States 
Code, the Office, in consultation with the Board, shall--
        (1) not later than 6 months after the date of enactment of this 
    Act, develop and implement a retirement financial literacy and 
    education strategy for Federal employees that--
            (A) shall educate Federal employees on the need for 
        retirement savings and investment; and
            (B) provide 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 to the Committee on Governmental Affairs of 
    the Senate and the Committee on Government Reform of the House of 
    Representatives on the strategy described under paragraph (1).

SEC. 3. TECHNICAL CORRECTIONS.

    Subchapter III of chapter 84 of title 5, United States Code, is 
amended--
        (1) in section 8433(d)(1), by striking ``paragraph (3)'' and 
    inserting ``paragraph (2)''; and
        (2) in section 8440b(b)--
            (A) in paragraph (2), by striking ``bankruptcy judge's or 
        magistrate's'' and inserting ``bankruptcy judge's or magistrate 
        judge's''; and
            (B) in paragraphs (4)(B) and (8), by striking ``bankruptcy 
        judge or magistrate'' each place it appears and inserting 
        ``bankruptcy judge or magistrate judge''.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.