United States 115th Congress Status: In Committee 1 R cosponsors

S 873 — TSP Modernization Act of 2017

Last action — Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

TSP Modernization Act of 2017 This bill modifies the rules relating to withdrawals from the Thrift Saving Plan (TSP) accounts of former federal employees and Members of Congress. Under current law, such employees and Members may make only one partial withdrawal upon reaching age 59-1/2 while employed or one withdrawal after retirement. The bill permits an unlimited number of such withdrawals. The bill also eliminates: (1) the withdrawal election deadline (i.e., by April 1 of the year after the year in which the plan participant turns 70-1/2 or is separated from service); and (2) the limitation on age-based in-service withdrawals.

Bill Text

What changed in the latest version

14 added · 6 removed

Plain-language change summary

The text now includes additional sponsors for the bill, increasing support from just Mr. Portman and Mr. Carper to include Ms. Duckworth, Mr. Rounds, and Mr. Kaine. Additionally, a specific phrase was corrected by adding the word "an" to clarify the language regarding payments. These changes could impact how the bill is perceived and supported in legislative discussions.

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873 Introduced in Senate (IS)] <DOC> 115th CONGRESS 1st Session S.
873 Reported in Senate (RS)] <DOC> Calendar No.
873 To amend section 8433 of title 5, United States Code, to provide for flexibility in making withdrawals from the Thrift Savings Fund.
260 115th CONGRESS 1st Session S.
873 [Report No.
115-183] To amend section 8433 of title 5, United States Code, to provide for flexibility in making withdrawals from the Thrift Savings Fund.
Portman (for himself and Mr.
Portman (for himself, Mr.
Carper) introduced the following bill;
Carper, Ms.
which was read twice and referred to the Committee on Homeland Security and Governmental Affairs _______________________________________________________________________ A BILL To amend section 8433 of title 5, United States Code, to provide for flexibility in making withdrawals from the Thrift Savings Fund.
Duckworth, Mr.
Rounds, and Mr.
Kaine) introduced the following bill;
which was read twice and referred to the Committee on Homeland Security and Governmental Affairs November 8, 2017 Reported by Mr.
Johnson, with an amendment [Insert the part printed in italic] _______________________________________________________________________ A BILL To amend section 8433 of title 5, United States Code, to provide for flexibility in making withdrawals from the Thrift Savings Fund.
(b) Stopping Periodic Payments.--Section 8433(d)(2) of title 5, United States Code, is amended-- (1) by striking ``change an'' and inserting ``return a payment that was made under'';
(b) Stopping Periodic Payments.--Section 8433(d)(2) of title 5, United States Code, is amended-- (1) by striking ``change an'' and inserting ``return a payment that was made under an'';
<all>
Calendar No.
260 115th CONGRESS 1st Session S.
873 [Report No.
115-183] _______________________________________________________________________ A BILL To amend section 8433 of title 5, United States Code, to provide for flexibility in making withdrawals from the Thrift Savings Fund.
_______________________________________________________________________ November 8, 2017 Reported with an amendment
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How this bill changes current law

7 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill modifies the withdrawal options and regulations related to the Thrift Savings Fund for employees and Members of the Government.

  • 5 U.S.C. § 8433(c)(1)

    and who has not made a withdrawal under subsection (h)(1)(A) may make one withdrawal → may make 1 or more withdrawals

    This change allows for multiple withdrawals instead of just one.

  • 5 U.S.C. § 8433(c)

    Withdrawals under this subsection shall be subject to such other conditions as the Executive Director may prescribe by regulation.

    This addition authorizes the Executive Director to set additional conditions for withdrawals.

  • 5 U.S.C. § 8433(d)(2)

    change an → return a payment that was made under an

    This change clarifies that former employees cannot return payments made as part of an election.

  • 5 U.S.C. § 8433(d)(2)

    a payment → such payment

    This modification enhances the specificity of the language.

  • 5 U.S.C. § 8433(f)(1)

    (1) Notwithstanding → Notwithstanding

    This change removes the initial clause, simplifying the provision.

  • 5 U.S.C. § 8433(h)(1)

    paragraph (2)

    This change reassigns the enumeration of subsequent paragraphs following the deletion.

  • 5 U.S.C. § 8432b(h)(2)(A)

    section 8433(d), or paragraph (1) or (2) of section 8433(h) → subsection (d) or (f) of section 8433

    This amendment modifies the references to ensure clarity and consistency.

Action History

  1. Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment. With written report No. 115-183.

  2. Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment. With written report No. 115-183.

  3. Placed on Senate Legislative Calendar under General Orders. Calendar No. 260.

  4. Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.

  5. Introduced in Senate

  6. Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 873 do?
TSP Modernization Act of 2017 This bill modifies the rules relating to withdrawals from the Thrift Saving Plan (TSP) accounts of former federal employees and Members of Congress. Under current law, such employees and Members may make only one partial withdrawal upon reaching age 59-1/2 while employed or one withdrawal after retirement. The bill permits an unlimited number of such withdrawals. The bill also eliminates: (1) the withdrawal election deadline (i.e., by April 1 of the year after the year in which the plan participant turns 70-1/2 or is separated from service); and (2) the limitation on age-based in-service withdrawals.
Who sponsors S 873?
S 873 is sponsored by Portman, Rob (Republican).
What is the current status of S 873?
This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 873?
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