Smart Savings Act

Bill: 113-s-2117
Sponsor: Sen. Warren, Elizabeth [D-MA]
Introduced: 2014-03-12 in the Senate
Policy area: Government Operations and Politics
Subjects: Financial services and investments
Government employee pay, benefits, personnel management
Government trust funds
Securities

Summary:
action_date: 2014-03-12
text: 
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the uniformed services. Requires TSP participants whose default fund is an age-appropriate L Fund to sign a risk acknowledgement before beginning TSP contributions. 

action_date: 2014-07-31
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the uniformed services. Requires TSP participants whose default fund is an age-appropriate L Fund to sign a risk acknowledgement before beginning TSP contributions. 

action_date: 2014-09-16
text: 
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the Uniformed Services. Requires TSP participants whose default fund is an age-appropriate L Fund to receive a risk acknowledgement before being enrolled to make TSP contributions. 
 
Makes this Act: (1) effective on the date the Executive Director of the Federal Retirement Thrift Investment Board issues guidance for implementing this Act, and (2) applicable to individuals who enroll in the Thrift Savings Plan on or after such date. 
 
Extends requirements relating to fiduciary protections to TSP beneficiaries.
 


Legislative actions:
action_date: 2014-09-17
text: Held at the desk.
action_date: 2014-09-17
text: Message on Senate action sent to the House.
action_date: 2014-09-17
text: Received in the House.
action_date: 2014-09-16
text: Passed Senate with an amendment by Unanimous Consent.
action_date: 2014-09-16
text: Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
action_date: 2014-09-16
text: Measure laid before Senate by unanimous consent. (consideration: CR S5647)
action_date: 2014-08-26
text: By Senator Carper from Committee on Homeland Security and Governmental Affairs filed written report under authority of the order of the Senate of 08/05/2014. Report No. 113-244.
action_date: 2014-08-26
text: By Senator Carper from Committee on Homeland Security and Governmental Affairs filed written report under authority of the order of the Senate of 08/05/2014. Report No. 113-244.
action_date: 2014-07-31
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
action_date: 2014-07-31
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Carper without amendment. Without written report.
action_date: 2014-07-31
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Carper without amendment. Without written report.
action_date: 2014-06-25
text: Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.
action_date: 2014-03-12
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
action_date: 2014-03-12
text: Introduced in Senate