A bill to amend title 5, United States Code, to provide that any liability of a Federal employee for a breach of any fiduciary responsibility under the Federal Retirement Thrift Investment Management System shall be payable by the United States if the liability relates to action taken in good faith and within the scope of the individual's official duties.

Summary

Amends the Federal Employees' Retirement System Act of 1986 to provide that any liability of a Federal employee for a breach of fiduciary responsibility with respect to the Thrift Savings Fund shall be payable by the United States if the liability relates to action taken in good faith and within the scope of the individual's official duties. Repeals provisions which allow for an assessment of Federal agencies for contributions to the Thrift Savings Fund for the purchase of insurance to cover potential liability of persons who serve in a fiduciary capacity with respect to such Fund. Requires repayment of agency contributions to the Fund which are not spent or obligated for the purchase of fiduciary liability insurance.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 28 July 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.