Govwatch

Introduced

In Committee

3

Passed One Chamber

4

Passed Both

5

Signed into Law

Sponsor

Mike Bost

Republican · IL · Representative

Votes with party: 97.7% (662 recorded votes)

Full profile: /officials/B001295

Source: Congress.gov · FEC

Cosponsors (24)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Oversight and Government Reform.

2026-06-09

Source: Congress.gov

Committee Activity

Currently in

House Committee on Oversight and Government ReformReferred To · 2026-06-09

Plain-English Summary

Federal employees and military members who participate in the Thrift Savings Fund (a retirement savings plan for government workers) would be allowed to electronically transfer their savings to other qualified retirement accounts like IRAs or 401(k)s. This change would give government workers more flexibility in managing their retirement savings and potentially allow them to consolidate their accounts in one place. The proposal is currently being reviewed by the House Committee on Oversight and Government Reform.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Government Operations and Politics

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9214 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9214 To provide for the electronic transfer of amounts from Thrift Savings Fund accounts to qualified retirement plans, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 9, 2026 Mr. Bost (for himself, Mrs. Bice, Mrs. Cammack, Mr. Crawford, Mr. DesJarlais, Mr. Donalds, Mr. Ezell, Mr. Guest, Mr. Hurd of Colorado, Mr. Issa, Ms. King-Hinds, Mr. McGuire, Mr. Moore of West Virginia, Mr. Ogles, Mrs. Radewagen, Ms. Salazar, Mr. Stauber, Mr. Van Orden, and Mrs. Wagner) introduced the following bill; which was referred to the Committee on Oversight and Government Reform _______________________________________________________________________ A BILL To provide for the electronic transfer of amounts from Thrift Savings Fund accounts to qualified retirement plans, 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. SHORT TITLE. This Act may be cited as the ``TSP Modernization Act''. SEC. 2. ELECTRONIC TRANSFER OF AMOUNTS IN THRIFT SAVINGS FUND ACCOUNTS TO QUALIFIED RETIREMENT PLANS. (a) Electronic Transfer.-- (1) In general.--Notwithstanding any other law, rule, or regulation, beginning on the date that is 1 year after the date of the enactment of this Act, if a transfer of funds is otherwise permitted from an individual's account within the Thrift Savings Fund to a qualified retirement plan at a brokerage firm, such transfer shall be permitted to be made electronically. (2) Information.--Such electronic transfer may not be made until such individual provides the information necessary to the Executive Director of the Federal Retirement Thrift Investment Board to carry out such transfer. (b) Report.--On the date that is 1 year after the date of the enactment of this Act, the Executive Director, in consultation with the Secretary of the Treasury, shall submit a report to Congress on the implementation of subsection (a). (c) Definitions.--In this Act-- (1) the term ``Thrift Savings Fund'' means the Thrift Savings Fund established under section 8437 of title 5, United States Code; and (2) the term ``qualified retirement plan'' has the meaning given that term in section 4974(c) of the Internal Revenue Code of 1986. <all>

Open clean-text view Read on Congress.gov →

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