- Not enactedThe President has not signed this bill
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Committee on Ways and MeansCommittee on Oversight and ReformIntroducedMarch 3rd, 2009
- house Committees
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Federal Retirement Reform Act of 2009
To amend title 5, United States Code, to provide for the automatic enrollment of new participants in the Thrift Savings Plan, and to clarify the method for computing certain annuities based on part-time service; to allow certain employees of the District of Columbia to have certain periods of service credited for purposes relating to retirement eligibility; and for other purposes.
Federal Retirement Reform Act of 2009 - Thrift Savings Plan Enhancement Act of 2009 - Requires the Federal Retirement Thrift Investment Board to provide for: (1) automatic enrollment in the Thrift Savings Plan (TSP) at a specified default percentage (between 2% and 5%) of basic pay of anyone appointed, transferred, or reappointed to a position in which that individual is eligible to contribute to TSP; (2) the inclusion in TSP of a qualified Roth contribution program and (3) the addition of a self-directed investment window under TSP, if it would be in the best interests of participants, limited to low-cost, passively-managed index funds that offer diversification. Requires the total service of an employee who retires eligible for an annuity under the Federal Employees' Retirement System (FERS) or who dies leaving a survivor entitled to benefits, to include the employee's days of unused sick leave for annuity computation purposes. Exempts a federal employee's part-time service performed before April 7, 1986, from proration requirements for purposes of annuity computation under the Civil Service Retirement System (CSRS). District of Columbia Court, Offender Supervision, Parole, and Public Defender Employees Equity Act of 2009 - Entitles any individual who is treated as a federal employee under CSRS or FERS to have certain qualifying District of Columbia service included in calculating that individual's creditable federal service for specified purposes, including annuity eligibility. Amends the Internal Revenue Code to allow federal annuitants and members of the Armed Forces to elect to exclude retirement plan distributions for health insurance and long-term care premiums from gross income.