Federal Retirement Reform Act of 2009 Passes House
Friday, April 10, 2009(National Federation of Federal Employees)
The House of
Representatives passed HR. 1804, the Federal
Retirement Reform Act of 2009, a bill that will
give FERS employees credit for unused sick
leave upon retiring and automatically enroll
new hires in the Thrift Savings Plan.
As Vice Chairman of the
Employee Thrift Advisory Council (ETAC), an
advisory body to the board that oversees the
TSP, NFFE National President Richard N. Brown
has urged automatic enrollment of new hires for
years:
“Automatic enrollment in
the TSP is crucial to the future retirement
security of incoming federal employees,” said
Brown. “For years, new employees have been
leaving free money on the table because many
aren’t aware this opportunity is available to
them.”
Sponsored by Rep.
Edolphus Towns (D-NY), Chairman of the House
Committee on Oversight and Government Reform,
the bill is essentially an amalgamation of
numerous retirement policy bills that had been
introduced earlier in the 111th
Congress.
