Federal Retirement Reform Act of 2009

Summary

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: (1) repayments of Civil Service Retirement System (CSRS) refunds made between October 1, 1990, and February 28, 1991, from the requirement that they include interest in order to receive retirement credit for the service covered; and (2) a federal employee's part-time service performed before April 7, 1986, from proration requirements for purposes of annuity computation under CSRS. Directs the Secretary of Defense to report to Congress on the cost, and the effect on recruitment and retention, of providing a matching payment for TSP contributions by members of the Armed Forces. Authorizes the repayment of refunds of retirement deductions under FERS in order to receive retirement credit for the service covered. 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. Increases the monthly indemnity allowance for surviving spouses of deceased members of the Armed Forces affected by the required survivor benefit plan annuity offset for dependency and indemnity compensation.

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Documents

4 official files

• Passed House without amendment

  summary · EN · 1 April 2009

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• Introduced in House (text)

  Introduced in House · EN · 31 March 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 31 March 2009

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• Introduced in House

  summary · EN · 31 March 2009

  Open at official source

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