Teacher:In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? Solve this instance: SECTION 1. PERCENTAGE LIMITATIONS ON CONTRIBUTIONS.

(a) Amendments Relating to FERS.--
(1) In general.--Subsection (a) of section 8432 of such
title is amended by striking ''10 percent of''.
(2) Justices and judges.--Subsection (b) of section 8440a
of such title is amended--
(A) by striking paragraph (2) and by redesignating
paragraphs (3) through (7) as paragraphs (2) through
(6), respectively; and
(B) in paragraph (6) (as so redesignated by
subparagraph (A)) by striking ''paragraphs (4) and
(5)'' and inserting ''paragraphs (3) and (4)''.
(3) Bankruptcy judges and magistrates.--Subsection (b) of
section 8440b of such title is amended--
(A) by striking paragraph (2) and by redesignating
paragraphs (3) through (8) as paragraphs (2) through
(7), respectively;
(B) in paragraph (4) (as so redesignated by
subparagraph (A)) by striking ''paragraph (4)(A), (B),
or (C)'' and inserting ''paragraph (3)(A), (B), or
(C)''; and
(C) in paragraph (7) (as so redesignated by
subparagraph (A)) by striking ''Notwithstanding
paragraph (4),'' and inserting ''Notwithstanding
paragraph (3),''.
(4) Court of federal claims judges.--Subsection (b) of
section 8440c of such title is amended--
(A) by striking paragraph (2) and by redesignating
paragraphs (3) through (8) as paragraphs (2) through
(7), respectively;
(B) in paragraph (4) (as so redesignated by
subparagraph (A)) by striking ''paragraph (4)(A) or
(B)'' and inserting ''paragraph (3)(A) or (B)''; and
(C) in paragraph (7) (as so redesignated by
subparagraph (A)) by striking ''Notwithstanding
paragraph (4),'' and inserting ''Notwithstanding
paragraph (3),''.
(5) Judges of the united states court of veterans
appeals.--Paragraph (2) of section 8440d(b) of such title is
amended to read as follows:
''(2) For purposes of contributions made to the Thrift Savings
Fund, basic pay does not include any retired pay paid pursuant to
section 7296 of title 38.''.
(b) Amendments Relating to CSRS.--Paragraph (2) of section 8351(b)
of title 5, United States Code, is amended by striking ''5 percent
of''.
(c) Effective Date.--
(1) In general.--The amendments made by this section shall
take effect on the date of the enactment of this Act.
(2) Coordination with election periods.--The Executive
Director shall by regulation determine the first election
period in which elections may be made consistent with the
amendments made by this section.
(3) Definitions.--For purposes of this section--
(A) the term ''election period'' means a period
afforded under section 8432(b) of title 5, United
States Code; and
(B) the term ''Executive Director'' has the meaning
given such term by section 8401(13) of title 5, United
States Code.

SEC. 2. ELIGIBLE ROLLOVER DISTRIBUTIONS.

Section 8432 of title 5, United States Code, is amended by adding
at the end the following:
''(j)(1) For the purpose of this subsection--
''(A) the term 'eligible rollover distribution' has the
meaning given such term by section 402(c)(4) of the Internal
Revenue Code of 1986; and
''(B) the term 'qualified trust' has the meaning given such
term by section 402(c)(8) of the Internal Revenue Code of 1986.
''(2) An employee or Member may contribute to the Thrift Savings
Fund an eligible rollover distribution from a qualified trust. A
contribution made under this subsection shall be made in the form
described in section 401(a)(31) of the Internal Revenue Code of 1986.
In the case of an eligible rollover distribution, the maximum amount
transferred to the Thrift Savings Fund shall not exceed the amount
which would otherwise have been included in the employee's or Member's
gross income for Federal income tax purposes.
''(3) The Executive Director shall prescribe regulations to carry
out this subsection.''.

SEC. 3. IMMEDIATE PARTICIPATION IN THE THRIFT SAVINGS PLAN.

(a) Elimination of Certain Waiting Periods for Purposes of Employee
Contributions.--Paragraph (4) of section 8432(b) of title 5, United
States Code, is amended to read as follows:
''(4) The Executive Director shall prescribe such regulations as
may be necessary to carry out the following:
''(A) Notwithstanding subparagraph (A) of paragraph (2), an
employee or Member described in such subparagraph shall be
afforded a reasonable opportunity to first make an election
under this subsection beginning on the date of commencing
service or, if that is not administratively feasible, beginning
on the earliest date thereafter that such an election becomes
administratively feasible, as determined by the Executive
Director.
''(B) An employee or Member described in subparagraph (B)
of paragraph (2) shall be afforded a reasonable opportunity to
first make an election under this subsection (based on the
appointment or election described in such subparagraph)
beginning on the date of commencing service pursuant to such
appointment or election or, if that is not administratively
feasible, beginning on the earliest date thereafter that such
an election becomes administratively feasible, as determined by
the Executive Director.
''(C) Notwithstanding the preceding provisions of this
paragraph, contributions under paragraphs (1) and (2) of
subsection (c) shall not be payable with respect to any pay
period before the earliest pay period for which such
contributions would otherwise be allowable under this
subsection if this paragraph had not been enacted.
''(D) Sections 8351(a)(2), 8440a(a)(2), 8440b(a)(2),
8440c(a)(2), and 8440d(a)(2) shall be applied in a manner
consistent with the purposes of subparagraphs (A) and (B), to
the extent those subparagraphs can be applied with respect
thereto.
''(E) Nothing in this paragraph shall affect paragraph
(3).''.
(b) Technical and Conforming Amendments.--(1) Section 8432(a) of
title 5, United States Code, is amended--
(A) in the first sentence by striking ''(b)(1)'' and
inserting ''(b)''; and
(B) by amending the second sentence to read as follows:
''Contributions under this subsection pursuant to such an
election shall, with respect to each pay period for which such
election remains in effect, be made in accordance with a
program of regular contributions provided in regulations
prescribed by the Executive Director.''.
(2) Section 8432(b)(1)(B) of such title is amended by inserting
''(or any election allowable by virtue of paragraph (4))'' after
''subparagraph (A)''.
(3) Section 8432(b)(3) of such title is amended by striking
''Notwithstanding paragraph (2)(A), an'' and inserting ''An''.
(4) Section 8432(i)(1)(B)(ii) of such title is amended by striking
''either elected to terminate individual contributions to the Thrift
Savings Fund within 2 months before commencing military service or''.
(5) Section 8439(a)(1) of such title is amended by inserting ''who
makes contributions or'' after ''for each individual'' and by striking
''section 8432(c)(1)'' and inserting ''section 8432''.
(6) Section 8439(c)(2) of such title is amended by adding at the
end the following: ''Nothing in this paragraph shall be considered to
limit the dissemination of information only to the times required under
the preceding sentence.''.
(7) Sections 8440a(a)(2) and 8440d(a)(2) of such title are amended
by striking all after ''subject to'' and inserting ''this chapter.''.
(c) Effective Date.--This section shall take effect 6 months after
the date of the enactment of this Act or such earlier date as the
Executive Director (within the meaning of section 8401(13) of title 5,
United States Code) may by regulation prescribe.
Student:
Amends Federal civil service law with respect to the Civil Service Retirement System, the Federal Employees' Retirement System (FERS), and the Thrift Savings Plan (TSP) Program to: (1) repeal the limitations on individual TSP contributions, including those from judges and other specified personnel of the Federal judicial branch; (2) allow an employee or member under FERS to contribute to the Thrift Savings Fund an eligible rollover distribution from a qualified trust; and (3) eliminate certain waiting periods for purposes of making contributions to the Thrift Savings Fund.