Home > 106th Congressional Bills > H.R. 208 (rh) To amend title 5, United States Code, to allow for the contribution of certain rollover distributions to accounts in the Thrift Savings Plan, to eliminate certain waiting-period requirements for participating in the Thrift Savings Plan, and...

H.R. 208 (rh) To amend title 5, United States Code, to allow for the contribution of certain rollover distributions to accounts in the Thrift Savings Plan, to eliminate certain waiting-period requirements for participating in the Thrift Savings Plan, and...


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106th CONGRESS
  1st Session
                                H. R. 208


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 21, 1999

  Received; read twice and referred to the Committee on Governmental 
                                Affairs

_______________________________________________________________________

                                 AN ACT


 
To amend title 5, United States Code, to allow for the contribution of 
certain rollover distributions to accounts in the Thrift Savings Plan, 
 to eliminate certain waiting-period requirements for participating in 
            the Thrift Savings Plan, 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. ELIGIBLE ROLLOVER DISTRIBUTIONS.

    (a) In General.--Section 8432 of title 5, United States Code, is 
amended by adding at the end the following:
    ``(j)(1) For the purpose of this subsection--
            ``(A) the term `eligible rollover distribution' has the 
        meaning given such term by section 402(c)(4) of the Internal 
        Revenue Code of 1986; and
            ``(B) the term `qualified trust' has the meaning given such 
        term by section 402(c)(8) of the Internal Revenue Code of 1986.
    ``(2) An employee or Member may contribute to the Thrift Savings 
Fund an eligible rollover distribution from a qualified trust. A 
contribution made under this subsection shall be made in the form 
described in section 401(a)(31) of the Internal Revenue Code of 1986. 
In the case of an eligible rollover distribution, the maximum amount 
transferred to the Thrift Savings Fund shall not exceed the amount 
which would otherwise have been included in the employee's or Member's 
gross income for Federal income tax purposes.
    ``(3) The Executive Director shall prescribe regulations to carry 
out this subsection.''.
    (b) Effective Date.--The amendment made by this section shall take 
effect on October 1, 2000, or such earlier date as the Executive 
Director (as defined by section 8401 of title 5, United States Code) 
may by regulation prescribe, but not before September 1, 2000.

SEC. 2. IMMEDIATE PARTICIPATION IN THE THRIFT SAVINGS PLAN.

    (a) Elimination of Certain Waiting Periods for Purposes of Employee 
Contributions.--Paragraph (4) of section 8432(b) of title 5, United 
States Code, is amended to read as follows:
    ``(4) The Executive Director shall prescribe such regulations as 
may be necessary to carry out the following:
            ``(A) Notwithstanding subparagraph (A) of paragraph (2), an 
        employee or Member described in such subparagraph shall be 
        afforded a reasonable opportunity to first make an election 
        under this subsection beginning on the date of commencing 
        service or, if that is not administratively feasible, beginning 
        on the earliest date thereafter that such an election becomes 
        administratively feasible, as determined by the Executive 
        Director.
            ``(B) An employee or Member described in subparagraph (B) 
        of paragraph (2) shall be afforded a reasonable opportunity to 
        first make an election under this subsection (based on the 
        appointment or election described in such subparagraph) 
        beginning on the date of commencing service pursuant to such 
        appointment or election or, if that is not administratively 
        feasible, beginning on the earliest date thereafter that such 
        an election becomes administratively feasible, as determined by 
        the Executive Director.
            ``(C) Notwithstanding the preceding provisions of this 
        paragraph, contributions under paragraphs (1) and (2) of 
        subsection (c) shall not be payable with respect to any pay 
        period before the earliest pay period for which such 
        contributions would otherwise be allowable under this 
        subsection if this paragraph had not been enacted.
            ``(D) Sections 8351(a)(2), 8440a(a)(2), 8440b(a)(2), 
        8440c(a)(2), and 8440d(a)(2) shall be applied in a manner 
        consistent with the purposes of subparagraphs (A) and (B), to 
        the extent those subparagraphs can be applied with respect 
        thereto.
            ``(E) Nothing in this paragraph shall affect paragraph 
        (3).''.
    (b) Technical and Conforming Amendments.--(1) Section 8432(a) of 
title 5, United States Code, is amended--
            (A) in the first sentence by striking ``(b)(1)'' and 
        inserting ``(b)''; and
            (B) by amending the second sentence to read as follows: 
        ``Contributions under this subsection pursuant to such an 
        election shall, with respect to each pay period for which such 
        election remains in effect, be made in accordance with a 
        program of regular contributions provided in regulations 
        prescribed by the Executive Director.''.
    (2) Section 8432(b)(1)(B) of title 5, United States Code, is 
amended by inserting ``(or any election allowable by virtue of 
paragraph (4))'' after ``subparagraph (A)''.
    (3) Section 8432(b)(3) of title 5, United States Code, is amended 
by striking ``Notwithstanding paragraph (2)(A), an'' and inserting 
``An''.
    (4) Section 8439(a)(1) of title 5, United States Code, is amended 
by inserting ``who makes contributions or'' after ``for each 
individual'' and by striking ``section 8432(c)(1)'' and inserting 
``section 8432''.
    (5) Section 8439(c)(2) of title 5, United States Code, is amended 
by adding at the end the following: ``Nothing in this paragraph shall 
be considered to limit the dissemination of information only to the 
times required under the preceding sentence.''.
    (6) Sections 8440a(a)(2) and 8440d(a)(2) of title 5, United States 
Code, are amended by striking all after ``subject to'' and inserting 
``this chapter.''.
    (c) Effective Date.--
            (1) In general.--The amendments made by this section shall 
        take effect on October 1, 2000, or such earlier date as the 
        Executive Director (as defined by section 8401 of title 5, 
        United States Code) may by regulation prescribe, but not before 
        September 1, 2000.
            (2) Savings provision.--Notwithstanding any other provision 
        of this section, until the amendments made by this section take 
        effect, title 5, United States Code, shall be applied as if 
        this section had not been enacted.

SEC. 3. ADDITIONAL GOVERNMENT CONTRIBUTIONS FOR RETIREMENT.

    (a) Federal Employees' Retirement System.--Section 8423(a) of title 
5, United States Code, is amended by adding at the end the following:
    ``(5) Notwithstanding any other provision of this chapter, 
effective with respect to contributions for pay periods beginning on or 
after October 1, 2000, the normal-cost percentage used for purposes of 
any computation under this subsection shall be equal to--
            ``(A) the percentage that would otherwise apply if this 
        paragraph had not been enacted, plus
            ``(B) .01 of 1 percentage point.''.
    (b) Supplemental Liability.--For purposes of applying section 
8423(b) of title 5, United States Code, and section 857(b) of the 
Foreign Service Act of 1980 (22 U.S.C. 4071f(b)), all amounts shall be 
determined as if this section had never been enacted.
    (c) Limitation on Source of Additional Contributions.--
Notwithstanding section 8423(a)(3) of title 5, United States Code, or 
any other provision of law, the additional Government contributions 
required to be made by reason of the amendment made by subsection (a) 
shall be made out of any amounts available to the employing agency 
involved, other than any appropriation, fund, or other amounts 
available for the payment of employee salaries or benefits.
    (d) Conforming Amendment.--Section 307 of the Federal Employees' 
Retirement System Act of 1986 (Public Law 99-335; 5 U.S.C. 8401 note) 
is amended by inserting ``, including the additional amount required 
under section 8423(a)(5)(B) of such title 5,'' after ``Federal 
Employees' Retirement System''.

            Passed the House of Representatives April 20, 1999.

            Attest:

                                                 JEFF TRANDAHL,

                                                                 Clerk.

Pages: 1

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