II 

Calendar No. 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. 

IN THE SENATE OF THE UNITED STATES 

APRIL 6 (legislative day, APRIL 4), 2017 

Mr. PORTMAN (for himself, Mr. CARPER, Ms. 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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘TSP Modernization 

5 Act of 2017’’. 


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•S 873 RS

1 SEC. 2. WITHDRAWAL FLEXIBILITY. 

2 (a) POST-SEPARATION PARTIAL WITHDRAWALS.— 

3 Section 8433(c) of title 5, United States Code, is amend4 ed— 

5 (1) in paragraph (1), by striking ‘‘and who has 

6 not made a withdrawal under subsection (h)(1)(A) 

7 may make one withdrawal’’ and inserting ‘‘may 

8 make 1 or more withdrawals’’; and 

9 (2) by adding at the end the following: 

10 ‘‘(5) Withdrawals under this subsection shall be sub11 ject to such other conditions as the Executive Director 

12 may prescribe by regulation.’’. 

13 (b) STOPPING PERIODIC PAYMENTS.—Section 

14 8433(d)(2) of title 5, United States Code, is amended— 

15 (1) by striking ‘‘change an’’ and inserting ‘‘re16 turn a payment that was made under an’’; and 

17 (2) by striking ‘‘a payment’’ and inserting 

18 ‘‘such payment’’. 

19 (c) ELIMINATION OF WITHDRAWAL ELECTION

20 DEADLINE.—Section 8433(f) of title 5, United States 

21 Code, is amended— 

22 (1) by striking ‘‘(1) Notwithstanding’’ and in23 serting ‘‘Notwithstanding’’; and 

24 (2) by striking paragraph (2). 

25 (d) AGE-BASED IN-SERVICE WITHDRAWALS.—Sec26 tion 8433(h) of title 5, United States Code, is amended— 


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•S 873 RS

1 (1) by striking paragraph (2); and 

2 (2) by redesignating paragraphs (3), (4), and 

3 (5) as paragraphs (2), (3), and (4), respectively. 

4 (e) TECHNICAL AND CONFORMING AMENDMENT.— 

5 Section 8432b(h)(2)(A) of title 5, United States Code, is 

6 amended by striking ‘‘section 8433(d), or paragraph (1) 

7 or (2) of section 8433(h)’’ and inserting ‘‘subsection (d) 

8 or (f) of section 8433’’. 

9 (f) REGULATIONS.—As soon as is administratively 

10 feasible, as determined by the Executive Director of the 

11 Federal Retirement Thrift Investment Board, the Execu12 tive Director shall prescribe regulations to carry out the 

13 amendments made by this section. 

14 (g) EFFECTIVE DATE; APPLICABILITY.—The amend15 ments made by this section shall— 

16 (1) take effect on the date of enactment of this 

17 Act; and 

18 (2) apply on and after the effective date of the 

19 regulations prescribed under subsection (f). 


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Calendar No. 260 

115TH CONGRESS 

1ST SESSION S. 873 

[Report No. 115–183] 

A BILL 

To amend section 8433 of title 5, United States 

drawals from the Thrift Savings Fund. Code, to provide for flexibility in making withNOVEMBER 8, 2017 

Reported with an amendment 


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