The House
Committee on Oversight and Government Reform is working with Andrew M. Saul, Chairman,
Federal Retirement Thrift Investment Board, to improve the federal employee
retirement system.
The
Committee has proposed legislation to automatically enroll federal employees in
the Thrift Savings Plan (TSP), make the life-cycle funds the default option for
employees who do not select a fund, and make a Roth option available to participants.
The legislation would also authorize the
board to add additional low-cost index funds or self-directed investment
options to the TSP.
Naturally, anyone not wanting to enroll in the TSP program would be able to opt out of automatic enrollment.