H.R. 4996 – Financial Opportunities for Retirees and Warriors Advancing Retirement Development Act (FORWARD Act)

This bill, introduced by Mrs. K IGGANS of Virginia and Mr. B ELL, aims to amend title 5, United States Code, allowing retired or certain disabled members of the uniformed services to contribute to the Thrift Savings Plan after separation.

Key Points

Allows retired or disabled members of the uniformed services to contribute a portion of their pay or compensation to the Thrift Savings Fund.
Regulations for implementation must be issued by the Federal Retirement Thrift Investment Board, in coordination with the Department of Defense and Department of Veterans Affairs, within 180 days after the bill’s enactment.

Details

The bill allows former members of the uniformed services who are entitled to retired pay or disability compensation to contribute a portion of their pay or compensation to the Thrift Savings Fund. The contributions can be made as provided under section 8432(b) of title 5, United States Code. No contributions shall be made for individuals who were not employees before separation from the uniformed services or civil service.