Financial Independence for Disabled Veterans Act of 2016

Bill: 114-hr-6089
Sponsor: full_name: Rep. Walker, Mark [R-NC-6]
Introduced: 2016-09-20
Policy area: Armed Forces and National Security
Subjects: Administrative law and regulatory procedures

Disability assistance

Federal Retirement Thrift Investment Board

Government employee pay, benefits, personnel management

Veterans' pensions and compensation
Latest action: action_date: 2016-09-20
text: Referred to the House Committee on Oversight and Government Reform.

Summaries:
action_date: 2016-09-20
action_desc: Introduced in House
text: <p><strong>Financial Independence for Disabled Veterans Act of 2016</strong></p> <p>This bill requires the Federal Retirement Thrift Investment Board to prescribe regulations to permit continued participation in the Thrift Savings Plan (TSP) by a member of the uniformed services after such member's discharge or release from service if such individual is entitled to veterans disability compensation.</p> <p>For purposes of provisions regarding TSP contributions, such individual's monthly veterans disability compensation shall be deemed to be his or her basic pay for a monthly pay period, but such individual's contribution shall not require or authorize a matching government contribution.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 6089 IN THE HOUSE OF REPRESENTATIVES September 20, 2016 Mr. Walker introduced the following bill; which was referred to the Committee on Oversight and Government Reform A BILL To authorize members and former members of the uniformed services who are entitled to veterans disability compensation to continue to participate in the Thrift Savings Plan through the deduction and deposit of a percentage of their veterans disability compensation to the Thrift Savings Fund.

1. Short title This Act may be cited as the Financial Independence for Disabled Veterans Act of 2016 . 2. Disabled veterans continued participation in Thrift Savings Plan (a) Participation authorized The Executive Director of the Federal Retirement Thrift Investment Board shall prescribe regulations to permit the continued participation in the Thrift Savings Plan by a member of the uniformed services after the discharge or release of the member from service in the uniformed services if the member or former member is entitled to veterans disability compensation. (b) Contributions For purposes of section 8432 of title 5, United States Code, the monthly veterans disability compensation of a member or former member of the uniformed services shall be deemed to be basic pay for a monthly pay period. (c) Matching contributions prohibited The deduction and deposit in the Thrift Savings Fund of a percentage of the veterans disability compensation of a member or former member of the uniformed services does not require or authorize Government contributions under section 8432 of title 5, United States Code, or any other provision of law. (d) Veterans disability compensation defined In this section, the term veterans disability compensation has the meaning given the term compensation in section 101(13) of title 38, United States Code.