Federal employees could electronically move retirement savings to other plans
This bill would let federal employees and retirees electronically transfer money from their Thrift Savings Plan (TSP) accounts to other qualified retirement plans. This new option would start one year after the bill becomes law, making it easier and faster to manage their retirement savings. Currently, such transfers may not be electronic.
Today, transfers of funds from Thrift Savings Fund accounts to other qualified retirement plans may not be permitted or mandated to be made electronically. After this bill, such transfers would be permitted to be made electronically, starting one year after it becomes law, as long as the individual provides the required information. The Federal Retirement Thrift Investment Board would also be required to set up this electronic transfer system and report on it.
HR 9214 · 119th Congress · June 9, 2026 · AI Summary by gemini-2.5-flash · 9/10
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