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S.2117: Smart Savings Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about government operations and politics
You can read the bill
Sponsor Elizabeth Warren, D-Mass.
Total Cosponsors 4 (2 Democrats, 2 Republicans)
Introduced March 12, 2014
Latest Major Action Sept. 17, 2014
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See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the Uniformed Services. Requires TSP participants whose default fund is an age-appropriate L Fund to receive a risk acknowledgement before being enrolled to make TSP contributions.

Makes this Act: (1) effective on the date the Executive Director of the Federal Retirement Thrift Investment Board issues guidance for implementing this Act, and (2) applicable to individuals who enroll in the Thrift Savings Plan on or after such date.

Extends requirements relating to fiduciary protections to TSP beneficiaries.

(Source: Congressional Research Service)

Bill Actions

Date Description
Sept. 17, 2014 Held at the desk.
Sept. 17, 2014 Message on Senate action sent to the House.
Sept. 17, 2014 Received in the House.
Sept. 16, 2014 Passed Senate with an amendment by Unanimous Consent.
Sept. 16, 2014 Measure laid before Senate by unanimous consent. (consideration: CR S5647)
Aug. 26, 2014 By Senator Carper from Committee on Homeland Security and Governmental Affairs filed written report under authority of the order of the Senate of 08/05/2014. Report No. 113-244.
July 31, 2014 Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
July 31, 2014 Committee on Homeland Security and Governmental Affairs. Reported by Senator Carper without amendment. Without written report.
June 25, 2014 Committee on Homeland Security and Governmental Affairs. Ordered to be reported without amendment favorably.
March 12, 2014 Read twice and referred to the Committee on Homeland Security and Governmental Affairs.