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Congress Dec 2017 - "Enhancing Access to Retirement Funds and Emergency Medications; Getting Tougher on Online Predators of Children"

Congress Dec 2017 - "Enhancing Access to Retirement Funds and Emergency Medications; Getting Tougher on Online Predators of Children"

Congress Dec 2017 - "Enhancing Access to Retirement Funds and Emergency Medications; Getting Tougher on Online Predators of Children"

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Enhancing Access to Retirement Funds and Emergency Medications; Getting Tougher on Online Predators of Children



TSP Modernization Act of 2017 (H.R. 3031) – Sponsored by Rep. Elijah Cummings (D-MD) on June 23, this bill will offer government employees who participate in the Thrift Savings Plan more flexible withdrawal options. The law eliminates the current restriction on taking partial post-separation withdrawals if the participant has already taken an age-based in-service withdrawal. The law also allows separated participants over age 70½ to remain in the TSP without having to make a withdrawal election on an entire account balance. Once implemented, plan participants will be able to stop monthly payments, change payment frequency, or elect to purchase an annuity while receiving monthly payments. This bill was signed into law on Nov. 17 by the President, and gives the Federal Retirement Thrift Investment Board (FRTIB) up to two years to make the requisite regulatory and operational changes necessary.....



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