Members of Congress Pension Opt Out Clarification Act

II ★(Star Print) Calendar No. 481 117TH CONGRESS 2D SESSION S. 471 [Report No. 117–143] To allow Members of Congress to opt out of the Federal Employees Retire- ment System, and allow Members who opt out of the Federal Employees Retirement System to continue to participate in the Thrift Savings Plan. IN THE SENATE OF THE UNITED STATES FEBRUARY 25, 2021 Mr. BRAUN (for himself and Mr. SCOTT of Florida) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs SEPTEMBER 12, 2022 Reported by Mr. CARPER (for Mr. PETERS), with amendments [Omit the part struck through and insert the part printed in italic] 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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 04:19 Nov 18, 2022 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S471.RS S471 pbinns on DSKJLVW7X2PROD with $$_JOB 2 S 471 RS1S SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Members of Congress 2 Pension Opt Out Clarification Act’’. 3 SEC. 2. MAKING FERS OPTIONAL FOR MEMBERS. 4 (a) IN GENERAL.— 5 (1) AMENDMENT.—Section 8401(20) of title 5, 6 United States Code, is amended by striking ‘‘, and 7 who (in the case’’ and all that follows through 8 ‘‘2004’’. 9 (2) APPLICABILITY.—The amendment made by 10 paragraph (1) shall apply with respect to an indi- 11 vidual who first serves as a Member of the House 12 of Representatives, including a Delegate or Resident 13 Commissioner to the Congress, on or after the date 14 of enactment of this Act. 15 (b) CONTINUED PARTICIPATION IN TSP.— 16 (1) AMENDMENT.—Section 8401(20) of title 5, 17 United States Code, as amended by subsection (a), 18 is further amended— 19 (A) by striking ‘‘term ‘Member’ has the 20 same meaning as provided in’’ and inserting the 21 following: ‘‘term ‘Member’— 22 ‘‘(A) has the meaning given the term ‘Member of 23 Congress’ under’’; 24 (B) by inserting ‘‘, subject to subpara- 25 graph (B),’’ after ‘‘except that’’; 26 VerDate Sep 11 2014 04:19 Nov 18, 2022 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S471.RS S471 pbinns on DSKJLVW7X2PROD with $$_JOB 3 S 471 RS1S (C) by adding ‘‘and’’ after the semicolon at 1 the end; and 2 (D) by adding at the end the following: 3 ‘‘(B) for purposes of subchapter III, has the 4 same meaning as provided in the meaning given the 5 term ‘Member of Congress’ under section 2106, with- 6 out regard to whether the individual elects not to 7 participate in the Federal Employees’ Retirement 8 System;’’. 9 (2) CONFORMING AMENDMENT TO TSP.—Sec- 10 tion 8431(a) of title 5, United States Code, is 11 amended by inserting ‘‘except as provided in section 12 8401(20)(B),’’ after ‘‘subchapter,’’. 13 (3) APPLICABILITY.—The amendments made 14 by this subsection shall apply with respect to an in- 15 dividual who makes an election described in section 16 8401(20) of title 5, United States Code, not to par- 17 ticipate in the Federal Employees’ Retirement Sys- 18 tem before, on, or after the date of enactment of this 19 Act. 20 VerDate Sep 11 2014 04:19 Nov 18, 2022 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S471.RS S471 pbinns on DSKJLVW7X2PROD with $$_JOB Calendar No. 481 117TH CONGRESS 2D SESSION S. 471 [Report No. 117–143] A BILL To allow Members of Congress to opt out of the Federal Employees Retirement System, and allow Members who opt out of the Federal Employees Retirement System to continue to participate in the Thrift Savings Plan. SEPTEMBER 12, 2022 Reported with amendments VerDate Sep 11 2014 04:19 Nov 18, 2022 Jkt 039200 PO 00000 Frm 00004 Fmt 6651 Sfmt 6651 E:\BILLS\S471.RS S471 pbinns on DSKJLVW7X2PROD with $$_JOB