James48843
03-16-2010, 09:44 AM
From http://govexec.com today:
Lawmakers to unveil leave investment bill for TSP
By Alyssa Rosenberg arosenberg@govexec.com (arosenberg@govexec.com) March 15, 2010
Lawmakers plan to introduce a bipartisan bill this week that would allow federal employees to invest the cash value of their unused annual leave in their Thrift Savings Plan accounts, retirement program staff said on Monday.
Rep. Stephen Lynch, D-Mass., chairman of the House Oversight and Government Reform Subcommittee on the Federal Workforce, and Rep. Jason Chaffetz, R-Utah, will introduce the legislation, Thomas Trabucco, director of external affairs for the TSP, (http://topics.govexec.com/tsp/) said during the Federal Retirement Thrift Investment Board's monthly meeting.
The Internal Revenue Service (http://topics.govexec.com/Internal+Revenue+Service/) moved in September 2009 to allow private sector employers to deposit the value of their employees' unused leave in 401(k) accounts. Contributions from annual leave would not count as a separate category of retirement savings and would be subject to the annual limits on such contributions, which are $16,500 for employees younger than 50 and $22,000 for those who are 50 or older.
More: http://www.govexec.com/story_page.cfm?articleid=44794&dcn=todaysnews
Lawmakers to unveil leave investment bill for TSP
By Alyssa Rosenberg arosenberg@govexec.com (arosenberg@govexec.com) March 15, 2010
Lawmakers plan to introduce a bipartisan bill this week that would allow federal employees to invest the cash value of their unused annual leave in their Thrift Savings Plan accounts, retirement program staff said on Monday.
Rep. Stephen Lynch, D-Mass., chairman of the House Oversight and Government Reform Subcommittee on the Federal Workforce, and Rep. Jason Chaffetz, R-Utah, will introduce the legislation, Thomas Trabucco, director of external affairs for the TSP, (http://topics.govexec.com/tsp/) said during the Federal Retirement Thrift Investment Board's monthly meeting.
The Internal Revenue Service (http://topics.govexec.com/Internal+Revenue+Service/) moved in September 2009 to allow private sector employers to deposit the value of their employees' unused leave in 401(k) accounts. Contributions from annual leave would not count as a separate category of retirement savings and would be subject to the annual limits on such contributions, which are $16,500 for employees younger than 50 and $22,000 for those who are 50 or older.
More: http://www.govexec.com/story_page.cfm?articleid=44794&dcn=todaysnews