108TH CONGRESS
2D SESSION
H. R. 4324
AN ACT
To amend chapter 84 of title 5, United States Code, to
provide for Federal employees to make elections to make,
modify, and terminate contributions to the Thrift Sav-
ings Fund at any time, and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. ELECTIONS FOR THRIFT SAVINGS PLAN CON-
TRIBUTIONS.
(a) SHORT TITLE.—This Act may be cited as the
‘‘Thrift Savings Plan Open Elections Act of 2004’’.
(b) IN GENERAL.—Section 8432(b)(1)(A) of title 5,
United States Code, is amended—
(1) in the first sentence—
(A) by inserting ‘‘(i)’’ before ‘‘The Execu-
tive Director’’; and
(B) by striking ‘‘shall be afforded a rea-
sonable period every 6 months to elect to’’ and
inserting ‘‘may’’;
(2) by striking the second sentence; and
(3) by adding at the end the following:
‘‘(ii) An election to make contributions under this
paragraph—
‘‘(I) may be made at any time;
‘‘(II) shall take effect on the earliest date after
the election that is administratively feasible; and
‘‘(III) shall remain in effect until modified or
terminated.’’.
(c) CONTINUATION
OF
NOT MAKING IMMEDIATE
AGENCY CONTRIBUTIONS.—Section 8432(b)(4)(C) of title
5, United States Code, is amended—
(1) by inserting ‘‘(i)’’ after ‘‘(C)’’; and
(2) by adding at the end the following:
‘‘(ii) Notwithstanding subparagraph (A) or (B),
contributions under paragraphs (1) and (2) of sub-
section (c) shall not begin to be made with respect
to an employee or Member described under para-
graph (2)(A) or (B) until the date that such con-
tributions would have begun to be made in accord-
ance with this paragraph as administered on the
date preceding the date of enactment of the Thrift
Savings Plan Open Elections Act of 2004.’’.
(d) TECHNICAL AND CONFORMING AMENDMENTS.—
(1) CIVIL SERVICE RETIREMENT SYSTEM PAR-
TICIPATION.—Section 8351(a)(2) of title 5, United
States Code, is amended by striking ‘‘only during a
period’’ and inserting ‘‘as’’.
(2) CONTRIBUTIONS
BY
PREVIOUSLY
INELI-
GIBLE EMPLOYEES.—Section 8432(b)(2) of title 5,
United States Code, is amended—
(A) in subparagraph (A), by striking ‘‘sec-
ond period’’ and inserting ‘‘date’’;
(B) in subparagraph (C), by striking ‘‘sec-
ond period’’ and inserting ‘‘date’’; and
(C) in subparagraph (D) by striking
‘‘other than during a period afforded’’ and in-
serting ‘‘as provided’’.
(3) PROVISION
OF
INFORMATION.—Section
8439(c)(2) of title 5, United States Code, is amend-
ed by striking ‘‘at least 30 calendar days before the
beginning of each election period under section
8432(b)(1)(A) of this title’’ and inserting ‘‘on a reg-
ular basis’’.
(4) 
JUSTICES
AND
JUDGES.—Section
8440a(a)(2) of title 5, United States Code, is
amended by striking ‘‘only during a period’’ and in-
serting ‘‘as’’.
(5) BANKRUPTCY
JUDGES
AND
MAGISTRATE
JUDGES.—Section 8440b(a)(2) of title 5, United
States Code, is amended by striking ‘‘only during a
period’’ and inserting ‘‘as’’.
(6) COURT OF FEDERAL CLAIMS JUDGES.—Sec-
tion 8440c(a)(2) of title 5, United States Code, is
amended by striking ‘‘only during a period’’ and in-
serting ‘‘as’’.
(7) JUDGES OF THE UNITED STATES COURT OF
APPEALS
FOR
VETERANS
CLAIMS.—Section
8440d(a)(2) of title 5, United States Code, is
amended by striking ‘‘only during a period’’ and in-
serting ‘‘as’’.
(8) MEMBERS
OF
THE
UNIFORMED
SERV-
ICES.—Section 8440e(b)(2)(A) of title 5, United
States Code, is amended—
(A) by striking ‘‘only during a period’’ and
inserting ‘‘as’’; and
(B) by striking all after section ‘‘8432(b)’’
and inserting a period.
SEC. 2. ENHANCING FINANCIAL LITERACY.
(a) IN GENERAL.—The Federal Retirement Thrift
Investment Board (in this section referred to as the
‘‘Board’’) shall periodically evaluate whether the tools
available to participants provide the information needed
to understand, evaluate, and compare financial products,
services, and opportunities offered through the Thrift Sav-
ings Plan. The Board shall use these evaluations to im-
prove its existing education program for Thrift Savings
Plan participants.
(b) REPORT ON FINANCIAL LITERACY EFFORTS.—
The Board shall annually report to the Committee on Gov-
ernmental Affairs of the Senate and the Committee on
Government Reform of the House of Representatives on
its Thrift Savings Plan education efforts on behalf of plan
participants.
(c) STRATEGY.—As part of the retirement training
offered by Office of Personnel Management under section
8350 of title 5, United States Code, the Office, in con-
sultation with the Board, shall—
(1) not later than 6 months after the date of
enactment of this Act, develop and implement a re-
tirement financial literacy and education strategy for
Federal employees that—
(A) shall educate Federal employees on the
need for retirement savings and investment;
and
(B) provide information related to how
Federal employees can receive additional infor-
mation on how to plan for retirement and cal-
culate what their retirement investment should
be in order to meet their retirement goals; and
(2) submit a report to the Committee on Gov-
ernmental Affairs of the Senate and the Committee
on Government Reform of the House of Representa-
tives on the strategy described under paragraph (1).
SEC. 3. TECHNICAL CORRECTIONS.
Subchapter III of chapter 84 of title 5, United States
Code, is amended—
(1) in section 8433(d)(1), by striking ‘‘para-
graph (3)’’ and inserting ‘‘paragraph (2)’’; and
(2) in section 8440b(b)—