TSP MODERNIZATION ACT HEADED TO THE PRESIDENT'S DESK - November 8, 2017
Bill Adding Flexibility to TSP Withdrawals Is Headed to Trump’s Desk
The Senate on Monday passed by unanimous consent a bill giving participants in federal employees’ 401(k)-style retirement savings program more options in managing their investments, sending the bipartisan measure to President Trump’s desk.
The TSP Modernization Act (H.R. 3031) would allow federal employees and retirees to make multiple age-based withdrawals from their Thrift Savings Plan accounts and remain eligible for partial withdrawals after they leave government as well. Additionally, those who have left government would be able to make multiple partial post-separation withdrawals.