summary
Introduced
02/25/2021
02/25/2021
In Committee
05/25/2022
05/25/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To allow Members of Congress to opt out of the Federal Employees Retirement System, and allow Members who opt out of the Federal Employees Retirement System to continue to participate in the Thrift Savings Plan.
AI Summary
This bill, the Members of Congress Pension Opt Out Clarification Act, allows members of Congress to opt out of the Federal Employees Retirement System (FERS) and continue to participate in the Thrift Savings Plan (TSP), which is a retirement savings and investment plan for federal employees. The bill amends the existing law to remove the requirement that members of Congress participate in FERS, making it optional for those who first serve on or after the date of enactment. It also clarifies that members who opt out of FERS can still contribute to the TSP.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Star Print ordered on the reported bill. (on 11/17/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
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