TheWeekInCongress.com

Week Ending July 16, 2004

S 2479 Thrift Savings Plan Open Elections Act

BRIEF

  The bill removes ‘open seasons’, a term for periods of the year when Federal employees can elect to participate in retirement plans. They may join whenever they want. The bill also allows for additional contributions to the plan by participants over age fifty.

   The Federal Retirement Thrift Investment Board is directed to improve tools that would help participants better understand, evaluate and compare the financial products, services and opportunities in the Plan.

Sponsor: Senator Susan Collins (R-ME)

Vote:  Passed Senate by Unanimous Consent (July 16, 2004) 

Cost to the taxpayers:  No discernible cost. ## All Rights Reserved. No reproduction or distribution without written permission from TheWeekInCongress.com.