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Congress Members Pension Opt-Out: New Savings Plan Participation Rules

This act allows Members of Congress to opt out of the federal retirement system. At the same time, these individuals will still be able to participate in the Thrift Savings Plan. The changes apply to new Members of Congress and those who have already opted out of the retirement system.
Key points
Members of Congress can voluntarily opt out of the federal employees retirement system.
Despite opting out of the pension, Members of Congress retain the right to participate in the Thrift Savings Plan.
The new rules apply to individuals beginning service in Congress after the act's enactment, as well as those who previously opted out of the retirement system.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 117_S_471
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-02-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Members of Congress Pension Opt Out Clarification Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_471.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-25.

What are the main provisions?

Key points include:

  • Members of Congress can voluntarily opt out of the federal employees retirement system.
  • Despite opting out of the pension, Members of Congress retain the right to participate in the Thrift Savings Plan.
  • The new rules apply to individuals beginning service in Congress after the act's enactment, as well as those who previously opted out of the retirement system.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 481.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Labor Benefits