article: SECTION 1. STANDARDIZATION OF WITHDRAWAL OPTIONS FOR THRIFT SAVINGS PLAN PARTICIPANTS. (a) Participation in the Thrift Savings Plan.--Section 8351(b) of title 5, United States Code, is amended-- (1) by amending paragraph (4) to read as follows: ``(4) Section 8433(b) of this title applies to any employee or Member who elects to make contributions to the Thrift Savings Fund under subsection (a) of this section and separates from Government employment.''; (2) by striking out paragraphs (5), (6), and (8); (3) by redesignating paragraphs (7), (9), and (10) as paragraphs (5), (6), and (7), respectively; (4) in paragraph (5)(C) (as redesignated under paragraph (3) of this subsection) by striking out ``or former spouse'' in both places it appears; (5) by amending paragraph (6) (as redesignated under paragraph (3) of this subsection) to read as follows: ``(6) Notwithstanding paragraph (4), if an employee or Member separates from Government employment and such employee's or Member's nonforfeitable account balance is $3,500 or less, the Executive Director shall pay the nonforfeitable account balance to the participant in a single payment unless the employee or Member elects, at such time and otherwise in such manner as the Executive Director prescribes, one of the options available under section 8433(b) of this title.''; and (6) in paragraph (7) (as redesignated under paragraph (3) of this subsection) by striking out ``nonforfeiture'' and inserting in lieu thereof ``nonforfeitable''. (b) Benefits and Election of Benefits.--Section 8433 of title 5, United States Code, is amended-- (1) in subsection (b) by striking out the matter before paragraph (1) and inserting in lieu thereof ``Subject to section 8435 of this title, any employee or Member who separates from Government employment entitled to an annuity under subchapter II of this chapter or any employee or Member who separates from Government employment is entitled and may elect--''; (2) by striking out subsections (c) and (d) and redesignating subsections (e), (f), (g), (h), and (i) as subsections (c), (d), (e), (f), and (g), respectively; (3) in subsection (c)(1) (as redesignated under paragraph (2) of this subsection) by striking out ``or (c)(4) or required under subsection (d) directly to an eligible retirement plan or plans) (as defined in section 402(a)(5)(E) of the Internal Revenue Code of 1954)'' and inserting in lieu thereof ``directly to an eligible retirement plan or plans (as defined in section 402(c)(8) of the Internal Revenue Code of 1986)''; (4) in subsection (d)(2) (as redesignated under paragraph (2) of this subsection) by striking out ``or (c)(2)''; and (5) in subsection (f) (as redesignated under paragraph (2) of this subsection)-- (A) by striking out paragraph (1) and redesignating paragraphs (2) and (3) as paragraphs (1) and (2), respectively; and (B) in paragraph (1) (as redesignated under subparagraph (A) of this paragraph)-- (i) by striking out ``Notwithstanding subsections (b) and (c), if an employee or Member separates from Government employment under circumstances making such an employee or Member eligible to make an election under either of those subsections, and such employee's or Member's'' and inserting in lieu thereof ``Notwithstanding subsection (b), if an employee or Member separates from Government employment, and such employee's or Member's''; and (ii) by striking out ``or (c), as applicable''; and (C) in paragraph (2) (as redesignated under subparagraph (A) of this paragraph) by striking out ``paragraphs (1) and (2)'' and inserting in lieu thereof ``paragraph (1)''. (c) Annuities: Methods of Payment; Election; Purchase.--Section 8434(c) of title 5, United States Code, is amended to read as follows: ``(c) Notwithstanding an elimination of a method of payment by the Board an employee, Member, former employee, or former Member may elect the eliminated method if the elimination of such method became effective less than 5 years before the date on which the annuity commences.''. (d) Protections for Spouses and Former Spouses.--Section 8435 of title 5, United States Code, is amended-- (1) in subsection (a)(1)(A) by striking out ``subsection (b)(3), (b)(4), (c)(3), or (c)(4) of section 8433 of this title or change an election previously made under subsection (b)(1), (b)(2), (c)(1), or (c)(2)'' and inserting in lieu thereof ``subsection (b)(3) or (b)(4) of section 8433 of this title or change an election previously made under subsection (b)(1) or (b)(2)''; (2) by striking out subsection (b); (3) by redesignating subsections (c), (d), (e), (f), (g), (h), and (i) as subsections (b), (c), (d), (e), (f), (g), and (h), respectively; (4) in subsection (b) (as redesignated under paragraph (3) of this subsection) by amending paragraph (2) to read as follows: ``(2) Paragraph (1) shall not apply, if-- ``(A) a joint waiver of such method is made, in writing, by the employee or Member and the spouse; or ``(B) the employee or Member waives such method, in writing, after establishing to the satisfaction of the Executive Director that circumstances described under subsection (a)(2) (A) or (B) make the requirement of a joint waiver inappropriate.''; and (5) in subsection (c)(1) (as redesignated under paragraph (3) of this subsection) by striking out ``and a transfer may not be made under section 8433(d) of this title''. (e) Justices and Judges.--Section 8440a(b) of title 5, United States Code, is amended-- (1) in paragraph (5) by striking out ``Section 8433(d)'' and inserting in lieu thereof ``Section 8433(b)''; and (2) by striking out paragraphs (7) and (8) and inserting in lieu thereof the following: ``(7) Notwithstanding paragraphs (4) and (5), if any justice or judge retires under subsection (a) or (b) of section 371 or section 372(a) of title 28, or resigns without having met the age and service requirements set forth under section 371(c) of title 28, and such justice's or judge's nonforfeitable account balance is $3,500 or less, the Executive Director shall pay the nonforfeitable account balance to the participant in a single payment unless the justice or judge elects, at such time and otherwise in such manner as the Executive Director prescribes, one of the options available under section 8433(b).''. (f) Bankruptcy Judges and Magistrates.--Section 8440b of title 5, United States Code, is amended-- (1) in subsection (b)(4) by amending subparagraph (B) to read as follows: ``(B) Section 8433(b) of this title applies to any bankruptcy judge or magistrate who elects to make contributions to the Thrift Savings Fund under subsection (a) of this section and who retires before attaining age 65 but is entitled, upon attaining age 65, to an annuity under section 377 of title 28 or section 2(c) of the Retirement and Survivors Annuities for Bankruptcy Judges and Magistrates Act of 1988.''; (2) in subsection (b)(4)(C) by striking out ``Section 8433(d)'' and inserting in lieu thereof ``Section 8433(b)''; (3) in subsection (b)(5) by striking out ``retirement under section 377 of title 28 is'' and inserting in lieu thereof ``any of the actions described under paragraph (4) (A), (B), or (C) shall be considered''; (4) in subsection (b) by striking out paragraph (8) and redesignating paragraph (9) as paragraph (8); and (5) in paragraph (8) of subsection (b) (as redesignated under paragraph (4) of this subsection)-- (A) by striking out ``Notwithstanding subparagraphs (A) and (B) of paragraph (4), if any bankruptcy judge or magistrate retires under circumstances making such bankruptcy judge or magistrate eligible to make an election under subsection (b) or (c)'' and inserting in lieu thereof ``Notwithstanding paragraph (4), if any bankruptcy judge or magistrate retires under circumstances making such bankruptcy judge or magistrate eligible to make an election under subsection (b)''; and (B) by striking out ``and (c), as applicable''. (g) Claims Court Judges.--Section 8440c of title 5, United States Code, is amended-- (1) in subsection (b)(4)(B) by striking out ``Section 8433(d)'' and inserting in lieu thereof ``Section 8433(b)''; (2) in subsection (b)(5) by striking out ``retirement under section 178 of title 28, is'' and inserting in lieu thereof ``any of the actions described in paragraph (4) (A) or (B) shall be considered''; (3) in subsection (b) by striking out paragraph (8) and redesignating paragraph (9) as paragraph (8); and (4) in paragraph (8) (as redesignated under paragraph (3) of this subsection) by striking out ``Notwithstanding paragraph (4)(A)'' and inserting in lieu thereof ``Notwithstanding paragraph (4)''. (h) Judges of the United States Court of Veterans Appeals.--Section 8440d(b)(5) of title 5, United States Code, is amended by striking out ``A transfer shall be made as provided under section 8433(d) of this title'' and inserting in lieu thereof ``Section 8433(b) of this title applies''. (i) Technical and Conforming Amendments.--Chapters 83 and 84 of title 5, United States Code, are amended-- (1) in section 8351(b)(5)(B) (as redesignated under subsection (a)(3) of this section) by striking out ``section 8433(i)'' and inserting in lieu thereof ``section 8433(g)''; (2) in section 8351(b)(5)(D) (as redesignated under subsection (a)(3) of this section) by striking out ``section 8433(i)'' and inserting in lieu thereof ``section 8433(g)''; (3) in section 8433(b)(4) by striking out ``subsection (e)'' and inserting in lieu thereof ``subsection (c)''; (4) in section 8433(d)(1) (as redesignated under subsection (b)(2) of this section) by striking out ``(d) of section 8435'' and inserting in lieu thereof ``(c) of section 8435''; (5) in section 8433(d)(2) (as redesignated under subsection (b)(2) of this section) by striking out ``section 8435(d)'' and inserting in lieu thereof ``section 8435(c)''; (6) in section 8433(e) (as redesignated under subsection (b)(2) of this section) by striking out ``section 8435(d)(2)'' and inserting in lieu thereof ``section 8435(c)(2)''; (7) in section 8433(g)(5) (as redesignated under subsection (b)(2) of this section) by striking out ``section 8435(f)'' and inserting in lieu thereof ``section 8435(e)''; (8) in section 8434(b) by striking out ``section 8435(c)'' and inserting in lieu thereof ``section 8435(b)''; (9) in section 8435(a)(1)(B) by striking out ``subsection (c)'' and inserting in lieu thereof ``subsection (b)''; (10) in section 8435(d)(1)(B) (as redesignated under subsection (d)(3) of this section) by striking out ``subsection (d)(2)'' and inserting in lieu thereof ``subsection (c)(2)''; (11) in section 8435(d)(3)(A) (as redesignated under subsection (d)(3) of this section) by striking out ``subsection (c)(1)'' and inserting in lieu thereof ``subsection (b)(1)''; (12) in section 8435(d)(6) (as redesignated under subsection (d)(3) of this section) by striking out ``or (c)(2)'' and inserting in lieu thereof ``or (b)(2)''; (13) in section 8435(e)(1)(A) (as redesignated under subsection (d)(3) of this section) by striking out ``section 8433(i)'' and inserting in lieu thereof ``section 8433(g)''; (14) in section 8435(e)(2) (as redesignated under subsection (d)(3) of this section) by striking out ``section 8433(i) of this title shall not be approved if approval would have the result described in subsection (d)(1)'' and inserting in lieu thereof ``section 8433(g) of this title shall not be approved if approval would have the result described under subsection (c)(1)''; (15) in section 8435(g) (as redesignated under subsection (d)(3) of this section) by striking out ``section 8433(i)'' and inserting in lieu thereof ``section 8433(g)''; (16) in section 8437(c)(5) by striking out ``section 8433(i)'' and inserting in lieu thereof ``section 8433(g)''; and (17) in section 8440a(b)(6) by striking out ``section 8351(b)(7)'' and inserting in lieu thereof ``section 8351(b)(5)''. (j) Interim Provision.--Section 8433(d) of title 5, United States Code, is amended by striking out ``shall transfer the amount of the balance'' and inserting in lieu thereof ``may transfer the amount of the balance''. (k) Effective Dates.--(1) Except as provided in paragraph (2), the provisions of this section shall take effect 1 year after the date of enactment of this Act or upon such other date as the Executive Director of the Federal Retirement Thrift Investment Board shall provide in regulation. (2) The provisions of subsection (j) of this section shall take effect upon the date of the enactment of this Act. Passed the Senate November 24 (legislative day, November 23), 1993. Attest: WALTER J. STEWART, Secretary.
summary: Revises the Thrift Savings Plan (TSP), with changes providing separating TSP participants with the same options for withdrawal.