Update: HR 1804 passed by a unanimous voice vote today. It will now head to the Senate, which is expected to consider the bill as part of the larger tobacco bill.
Original post: The House is preparing to vote onÂ a bill containing several provisions affecting federal employees this afternoon. HR 1804, the Federal Retirement Reform Act, would:
- Automatically enroll all new employees in the Thrift Savings Plan’s G Fund. The Pentagon would decide on its own whether new military service members would be automatically enrolled.
- Create a Roth 401(k) option in the TSP.
- Allow the board governing the TSP to create additional investment funds for participants.
- Allow employees under the Federal Employees Retirement System to count their unused sick leave towards calculating their retirement annuities.
- Make sure Civil Service Retirement System employees who work part time at the end of their careers are paid their full annuities. Due to a faulty 1986 law, CSRS employees who go part time before retirement find their pre-1986 service is incorrectly calculated as part-time service, costing them hundreds or thousands of dollars each year. This bill would fix that error.
Floor debate is expected to begin at 1 p.m.