NFFE Applauds House Committee for Passage of TSP Annual Leave Investment BillWednesday, April 14, 2010
Contact: Randy Erwin, Legislative Director
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.”