I 

112TH CONGRESS 

1ST SESSION H. R. 1201 

To amend title 5, United States Code, to provide for the establishment 

of a precious metals investment option in the Thrift Savings Fund. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 17, 2011 

Mr. PAUL introduced the following bill; which was referred to the Committee 

on Oversight and Government Reform 

A BILL 

To amend title 5, United States Code, to provide for the 

establishment of a precious metals investment option in 

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 ‘‘Thrift Savings Fund 

5 Improvement Act’’. 

6 SEC. 2. PRECIOUS METALS INVESTMENT FUND. 

7 (a) FUND DEFINED.—Section 8438(a) of title 5, 

8 United States Code, is amended— 

9 (1) in paragraph (9), by striking ‘‘and’’ at the 

10 end; 


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1 (2) in paragraph (10), by striking the period 

2 and inserting ‘‘; and’’; and 

3 (3) by adding at the end the following: 

4 ‘‘(11) the term ‘Precious Metals Investment 

5 Fund’ means the Precious Metals Investment Fund 

6 established under subsection (b)(1)(F).’’. 

7 (b) ESTABLISHMENT.— 

8 (1) IN GENERAL.—Section 8438(b)(1) of title 

9 5, United States Code, is amended— 

10 (A) in subparagraph (E), by striking 

11 ‘‘and’’ at the end; 

12 (B) in subparagraph (F), by striking the 

13 period and inserting ‘‘; and’’; and 

14 (C) by adding at the end the following: 

15 ‘‘(G) a Precious Metals Investment Fund 

16 as provided in paragraph (6).’’. 

17 (2) FUND REQUIREMENTS.—Section 8438(b) of 

18 title 5, United States Code, is amended by adding 

19 at the end the following: 

20 ‘‘(6)(A) The Board shall establish a Precious Metals 

21 Investment Fund. 

22 ‘‘(B) Contributions to the Precious Metals Invest23 ment Fund shall be invested in physical gold, silver, or 

24 platinum bullion (rather than any mining company shares, 

25 certificates, derivatives, or futures options), and any bulVerDate Mar 15 2010 04:12 Mar 23, 2011 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1201.IH H1201

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1 lion so acquired shall constitute the assets of the Precious 

2 Metals Investment Fund and shall be stored in a vault 

3 in a federally chartered or State chartered bank. Each 

4 share in the Precious Metals Investment Fund shall rep5 resent a direct investment in the precious metal itself.’’. 

6 SEC. 3. EFFECTIVE DATE; DEFINITIONS. 

7 (a) EFFECTIVE DATE.—The Federal Retirement 

8 Thrift Investment Board— 

9 (1) shall study the operation of existing pre10 cious metals funds to determine the best practices of 

11 those funds; and 

12 (2) not later than 1 year after the date of the 

13 enactment of this Act— 

14 (A) shall establish the Precious Metals In15 vestment Fund, incorporating the best practices 

16 referred to in paragraph (1) to such extent and 

17 in such manner as the Board shall determine; 

18 and 

19 (B) shall make the Precious Metals Invest20 ment Fund available to individuals participating 

21 in the Thrift Savings Plan. 

22 (b) DEFINITIONS.—For purposes of this section— 

23 (1) the term ‘‘Precious Metals Investment 

24 Fund’’ has the meaning given such term by section 


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1 8438(a)(11) of title 5, United States Code (as 

2 amended by section 2(a)); and 

3 (2) the term ‘‘Thrift Savings Plan’’ refers to 

4 the plan described in subchapter III of chapter 84 

5 of such title 5. 

Æ 


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