NFFE Applauds House Committee for Passage of TSP Annual Leave Investment Bill
Wednesday, April 14, 2010
FOR IMMEDIATE
RELEASE
Contact: Randy Erwin,
Legislative Director
Phone:
202-257-0948
Washington,
D.C. –
Today, the House Oversight and Government
Reform Committee passed the Federal Employees
and Uniformed Services Retirement Equity Act of
2010 (H.R. 4865), a bill that allows civilian
and military federal employees to invest the
cash value of accrued annual leave in their
Thrift Savings Plan retirement accounts.
“This is
a great piece of legislation for federal
workers,” said NFFE National President William
R. Dougan. “It would offer a much needed boon
to federal employees’ retirement accounts which
took such a big hit in recent years.”
Introduced by Federal Workforce, Postal
Service , and the District of Columbia
Subcommittee Chairman Stephen Lynch (D-MA) and
Ranking Member Jason Chaffetz (R-UT), the
bipartisan legislation would impact the both
the FERS and CSRS employees who voluntarily
participate in the government-administered
401(k)-style retirement plan.
“We want to thank Representatives Lynch and Chaffetz for coming together across party lines to advance this important piece of legislation for federal employees,” said NFFE National President William R. Dougan. “Their leadership on this legislation will be crucial as the bill moves through Congress.”