Senate Bill 492
115th Congress(2017-2018)
Servicemember Retirement Improvement Act
Introduced
Introduced in Senate on Mar 2, 2017
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
492
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Servicemember Retirement Improvement Act
This bill amends the Internal Revenue Code to allow members of the Ready Reserve of a reserve component of the Armed Forces to make the maximum allowable contribution ($18,000 in 2017) to their Thrift Savings Plans (TSPs) without limiting the amount such members may contribute to a retirement plan based upon other employment. The bill also doubles the maximum allowable contribution amount to the TSPs of federal employees in the Ready Reserve who are not eligible to make contributions to any plan other than the TSP.
March 2, 2017
03/02/2017
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1580)
03/02/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:35:24 PM