S. 471 — what changed
Members of Congress Pension Opt Out Clarification Act
From Introduced in Senate to Reported in Senate. 1 section amended between Introduced in Senate and Reported in Senate.
Sec. 2 Making FERS optional for Members
In general—
Amendment— Section 8401(20) of title 5, United States Code, is amended by striking “, and who (in the case” and all that follows through “2004”.
Applicability— The amendment made by paragraph (1) shall apply with respect to an individual who first serves as a Member of the House of Representatives, including a Delegate or Resident Commissioner to the Congress, on or after the date of enactment of this Act.
Continued participation in TSP—
Amendment— Section 8401(20) of title 5, United States Code, as amended by subsection (a), is further amended—
changed
by striking “term Member has” has the same meaning as provided in” and inserting the following: “term ‘Member’—
changed
“(A) has”has the meaning given the term Member of Congress under”
by inserting “, subject to subparagraph (B),” after “except that”;
by adding “and” after the semicolon at the end; and
by adding at the end the following:
changed
“(B) for purposes of subchapter III, has the same meaning as provided in inthe meaning given the term Member of Congress under section 2106, without regard to whether the individual elects not to participate in the Federal Employees' Retirement System;”
Conforming amendment to TSP— Section 8431(a) of title 5, United States Code, is amended by inserting “except as provided in section 8401(20)(B),” after “subchapter,”.
Applicability— The amendments made by this subsection shall apply with respect to an individual who makes an election described in section 8401(20) of title 5, United States Code, not to participate in the Federal Employees' Retirement System before, on, or after the date of enactment of this Act.