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H.R. 4325 (ih) To amend the Internal Revenue Code of 1986 and the Employee Retirement [Introduced in House] ...
108th CONGRESS 2d Session H. R. 4324 To amend title 5, United States Code, to eliminate the provisions limiting certain election opportunities available to individuals participating in the Thrift Savings Plan, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 11, 2004 Mr. Tom Davis of Virginia (for himself, Mrs. Jo Ann Davis of Virginia, and Mr. Murphy) introduced the following bill; which was referred to the Committee on Government Reform _______________________________________________________________________ A BILL To amend title 5, United States Code, to eliminate the provisions limiting certain election opportunities available to individuals 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. CONTRIBUTIONS TO THE THRIFT SAVINGS FUND. (a) Elimination of Provisions Limiting Election Opportunities.-- Section 8432(b) of title 5, United States Code, is amended-- (1) by striking paragraphs (2), (3), and (4); (2) by redesignating paragraph (1)(A) as paragraph (1) and paragraph (1)(B) as paragraph (2); (3) in paragraph (1) (as so redesignated), by striking ``shall be afforded a reasonable period every 6 months'' and inserting ``shall, in any pay period, be allowed''; and (4) in paragraph (2) (as so redesignated), by striking ``subparagraph (A) (or any election allowable by virtue of paragraph (4))'' and inserting ``paragraph (1)''. (b) Simplification of Provisions Relating to Agency Automatic 1 Percent Contributions Generally.--Section 8432(c)(1) of title 5, United States Code, is amended-- (1) by striking ``(c)(1)(A)'' and inserting ``(c)(1)''; (2) by striking subparagraphs (B) and (C); and (3) by striking ``At the time'' and all that follows through ``the employing agency'' and inserting ``At the time prescribed by the Executive Director in regulations, but no later than 12 days after the end of each pay period that applies with respect to an employee or Member, the employing agency''. (c) Simplification of Provisions Relating to Agency Matching Contributions Generally.--Section 8432(c)(2) of title 5, United States Code, is amended by striking subparagraph (C). (d) Elimination of Obsolete Provisions Relating to Certain Makeup 1 Percent Contributions.--Section 8432 of title 5, United States Code, is amended-- (1) by striking paragraph (3) of subsection (c); and (2) by striking the second sentence of subsection (d). SEC. 2. TECHNICAL AND CONFORMING AMENDMENTS. (a) Provisions Relating to Retroactive USERRA Makeup Contributions.--Section 8432(i) of title 5, United States Code, is amended-- (1) in paragraph (1)(B), by striking all that follows ``as referred to in'' and inserting ``section 8432b(b)(2)(B)), is eligible to make an election described in subsection (b)(1).''; and (2) in paragraph (2), by striking all that follows ``would be allowable'' and inserting ``under subsection (b).''. (b) Provisions Relating to Timely Dissemination of Information.-- Section 8439(c)(2) of title 5, United States Code, is amended-- (1) in the first sentence, by striking ``at least 30 calendar days before the beginning of each election period under section 8432(b)(1)(A) of this title, and''; and (2) by striking the second sentence. (c) Provisions Relating to Certain Groups of Participants.-- (1) Civilian personnel.--Sections 8351, 8440a, 8440b, 8440c, and 8440d of title 5, United States Code, are each amended in subsection (a)-- (A) by striking paragraph (2); and (B) by striking ``(a)(1)'' and inserting ``(a)''. (2) Members of the uniformed services.--Section 8440e of title 5, United States Code, is amended in subsection (b)-- (A) by striking paragraph (2); and (B) by striking ``(b)(1)'' and inserting ``(b)''. SEC. 3. EFFECTIVE DATE; SAVINGS PROVISIONS. (a) Effective Date.--This Act shall take effect as of such date as the Executive Director may by regulation prescribe, but in no event later than 1 year after the date of the enactment of this Act. (b) Savings Provisions.--The Executive Director shall prescribe regulations to ensure that provisions comparable to those repealed by subsections (b)(2), (c), and (d) of section 1 remain in effect for as long as necessary so that no person will be denied any benefit for which such person would have been eligible had those provisions not been so repealed. (c) Definition.--For purposes of this section, the term ``Executive Director'' means the Executive Director appointed by the Federal Retirement Thrift Investment Board under section 8474 of title 5, United States Code. <all>
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