June 9, 2026
Mr. Bost (for himself, Mrs. Bice, Mrs. Cammack, Mr. Crawford, Mr. DesJarlais, Mr. Donalds, Mr. Ezell, Mr. Guest, Mr. Hurd of Colorado, Mr. Issa, Ms. King-Hinds, Mr. McGuire, Mr. Moore of West Virginia, Mr. Ogles, Mrs. Radewagen, Ms. Salazar, Mr. Stauber, Mr. Van Orden, and Mrs. Wagner) introduced the following bill; which was referred to the Committee on Oversight and Government Reform
To provide for the electronic transfer of amounts from Thrift Savings Fund accounts to qualified retirement plans, and for other purposes.
Section 1. Short title
This Act may be cited as the TSP Modernization Act
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Sec. 2. Electronic transfer of amounts in Thrift Savings Fund accounts to qualified retirement plans
(a) Electronic transfer
(1) In general
Notwithstanding any other law, rule, or regulation, beginning on the date that is 1 year after the date of the enactment of this Act, if a transfer of funds is otherwise permitted from an individual’s account within the Thrift Savings Fund to a qualified retirement plan at a brokerage firm, such transfer shall be permitted to be made electronically.
(2) Information
Such electronic transfer may not be made until such individual provides the information necessary to the Executive Director of the Federal Retirement Thrift Investment Board to carry out such transfer.
(b) Report
On the date that is 1 year after the date of the enactment of this Act, the Executive Director, in consultation with the Secretary of the Treasury, shall submit a report to Congress on the implementation of subsection (a).
(c) Definitions
In this Act—
(1)
the term Thrift Savings Fund
means the Thrift Savings Fund established under section 8437 of title 5, United States Code; and
(2)
the term qualified retirement plan
has the meaning given that term in section 4974(c) of the Internal Revenue Code of 1986.