Thrift Savings Fund Investment Act of 1987
PL 100-43 (S.1177), enacted 05/22/1987

PUBLIC LAW 100-43—MAY 22, 1987 
101 STAT. 315 
Public Law 100-43 
100th Congress 
An Act 
To amend title 5, United States Code, to provide for procedures for the investment 
and payment of interest of funds in the Thrift Savings Fund when restrictions on 
such investments and payments are caused by the statutory public debt limit. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That this Act may 
be cited as the "Thrift Savings Fund Investment Act of 1987'. 
SEC. 2. THRIFT SAVINGS INVESTMENT. 
(a) INVESTMENT AND RESTORATION OF THE FUND.—Section 8438 of 
title 5, United States Code, is amended by adding at the end the 
following new subsection: 
"(h)(1) Notwithstanding subsection (f) of this section, the Secretary 
of the Treasury may suspend the issuance of additional amounts of 
obligations of the United States, if such issuances could not be made 
without causing the public debt of the United States to exceed the 
public debt limit, as determined by the Secretary of the Treasury. 
"(2) Any issuances of obligations to the Government Securities 
Investment Fund which, solely by reason of the public debt limit are 
not issued, shall be issued under subsection (f) by the Secretary of 
the Treasury as soon as such issuances can be issued without 
exceeding the public debt limit. 
"(3) Upon expiration of the debt issuance suspension period, the 
Secretary of the Treasury shall immediately issue to the Govern-
ment Securities Investment Fund obligations under chapter 31 of 
title 31 that (notwithstanding subsection (f)(2) of this section) bear 
such interest rates and maturity dates as are necessary to ensure 
that, after such obligations are issued, the holdings of obligations of 
the United States by the Government Securities Investment Fund 
will replicate the obligations that would then be held by the Govern-
ment Securities Investment Fund under the procedure set forth in 
paragraph (5), if the suspension of issuances under paragraph (1) of 
this subsection had not occurred. 
"(4) On the first business day after the expiration of any debt 
issuance suspension period, the Secretary of the Treasury shall pay 
to the Government Securities Investment Fund, from amounts in 
the general fund of the Treasury of the United States not otherwise 
appropriated, an amount equal to the excess of the net amount of 
interest that would have been earned by the Government Securities 
Investment Fund from obligations of the United States during such 
debt issuance suspension period i
f
— 
"(A) amounts in the Government Securities Investment Fund 
that were available for investment in obligations of the United 
States and were not invested during such debt issuance suspen-
sion period solely by. reason of the public debt limit had been 
invested under the procedure set forth in paragraph (5), over 
"(B) the net amount of interest actually earned by the 
Government Securities Investment Fund from obligations of the 
United States during such debt issuance suspension period. 
May 22, 1987 
[S. 1177] 
Thrift Savings 
Fund 
Investment Act 
of 1987. 
Government 
organization and 
employees. 
5 u s e 8401 note. 
101 STAT. 316 
PUBLIC LAW 100-43—MAY 22, 1987 
"(5) On each business day during the debt limit suspension period, 
the Executive Director shall notify the Secretary of the Treasury of 
the amounts, by maturity, that would have been invested or re-
deemed each day had the debt issuance suspension period not 
occurred. 
" 
"(6) For purposes of this subsection and subsection (i) of this 
! 
section— 
"(A) the term 'public debt limit' means the limitation imposed 
by section 3101(b) of title 31; and 
.•..;vr«- -ti».:;' 
"(B) the term 'debt issuance suspension period' means any 
^;'j 
period for which the Secretary of the Treasury determines for 
purposes of this subsection that the issuance of obligations of 
the United States may not be made without exceeding the 
public debt limit.", 
(b) 
REPORTS REGARDING 
THE OPERATION 
AND STATUS OF THE 
FUND.—Section 8438 of title 5, United States Code, £is amended by 
subsection (a), is further amended by adding at the end the following 
new subsection: 
"(i)(l) The Secretary of the Treasury shall report to Congress on 
the operation and status of the Thrift Savings Fund during each 
debt issuance suspension period for which the Secretary is required 
to take action under paragraph (3) or (4) of subsection (h) of this 
section. The report shall be submitted as soon as possible after the 
expiration of such period, but not later than 30 days after the first 
business day after the expiration of such period. The Secretary shall 
concurrently transmit a copy of such report to the Executive Direc-
tor and the Comptroller General of the United States. 
"(2) Whenever the Secretary of the Treasury determines that, by 
reason of the public debt limit, the Secretary will be unable to fully 
comply with the requirements of subsection (f) of this section, the 
Secretary shall immediately notify Congress and the Executive 
Director of the determination. The notification shall be made in 
writing.". 
Approved May 22, 1987. 
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CONGRESSIONAL RECORD, Vol. 133 (1987): 
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May 12, considered and passed Senate. 
May 13, considered and passed House.