[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5797 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 5797

 To amend title 5, United States Code, to provide for a qualified Roth 
          contribution program under the Thrift Savings Plan.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 15, 2008

  Mrs. Drake introduced the following bill; which was referred to the 
              Committee on Oversight and Government Reform

_______________________________________________________________________

                                 A BILL


 
 To amend title 5, United States Code, to provide for a qualified Roth 
          contribution program under 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 ``Roth TSP Act of 2008''.

SEC. 2. REQUIREMENT THAT THRIFT SAVINGS PLAN INCLUDE A QUALIFIED ROTH 
              CONTRIBUTION PROGRAM.

    (a) In General.--Subchapter III of chapter 84 of title 5, United 
States Code, is amended by inserting after section 8432c the following:
``Sec. 8432d. Qualified Roth contribution program
    ``(a) In General.--The Executive Director, in consultation with the 
Secretary of the Treasury, shall by regulation provide for the 
inclusion in the Thrift Savings Plan of a qualified Roth contribution 
program (hereinafter in this section referred to as the `Program').
    ``(b) Qualified Roth Contribution Program.--For purposes of this 
section, the term `qualified Roth contribution program' means a program 
that satisfies the requirements of paragraphs (1) and (2) of section 
402A(b) of the Internal Revenue Code of 1986.
    ``(c) Required Provisions.--The regulations shall include--
            ``(1) provisions under which an election to make designated 
        Roth contributions may be made--
                    ``(A) by any individual who is eligible to make 
                contributions under section 8351, 8432(a), 8440a, 
                8440b, 8440c, 8440d, or 8440e; and
                    ``(B) by any individual not described in 
                subparagraph (A) who is otherwise eligible to make 
                elective deferrals under the Thrift Savings Plan, as 
                identified under such regulations; and
            ``(2) such other provisions as may be necessary to carry 
        out this section.
    ``(d) Returns and Reports.--The Executive Director shall, with 
respect to designated Roth contributions under the Program, make such 
returns and reports as the Secretary of the Treasury may prescribe 
under section 6047(f) of the Internal Revenue Code of 1986.
    ``(e) Definitions.--For purposes of this section, the terms 
`designated Roth contribution' and `elective deferral' have the 
respective meanings given such terms in section 402A of the Internal 
Revenue Code of 1986.''.
    (b) Technical and Conforming Amendments.--
            (1) Accounting and information.--Section 8439(a) of title 
        5, United States Code, is amended by adding at the end the 
        following:
    ``(4) Pursuant to regulations prescribed by the Executive Director, 
this section shall be carried out in a manner consistent with section 
8432d of this title and section 402A of the Internal Revenue Code of 
1986, including by making any modifications to the definition of an 
`account' under this subsection which may be necessary.''.
            (2) Clerical amendment.--The analysis for chapter 84 of 
        title 5, United States Code, is amended by inserting after the 
        item relating to section 8432c the following:

``8432d. Qualified Roth contribution program.''.
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