About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

S. 2117, Smart Savings Act [i] (July 3, 2014)

handle is hein.congrec/cbo1756 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 3, 2014 S. 2117 Smart Savings Act As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 25, 2014 S. 2117 would change the default investment fund in the Thrift Savings Plan (TSP) for government employees. Currently, contributions of employees who are enrolled in the TSP, but have not specified where to invest their funds, are automatically invested in the Government Securities Investment Fund. This bill would shift the default fund to a Lifecycle fund with an age-appropriate asset allocation. CBO estimates that enacting S. 2117 would not affect direct spending. The Joint Committee on Taxation (JCT) estimates there could be a small revenue effect because enacting the bill might change the number of federal employees who choose to contribute to the TSP, thus modifying their total tax liability. Therefore, pay-as-you-go procedures apply. However, JCT estimates that any revenue effects would be negligible. S. 2117 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would impose no costs on state, local, or tribal governments. On May 7, 2014, CBO transmitted a cost estimate for H.R. 4193, the Smart Savings Act, as ordered reported by the House Committee on Oversight and Government Reform on March 12, 2014. The two bills are substantively identical and the cost estimates are the same. The CBO staff contacts for this estimate are Santiago Vallinas and Dan Ready. This estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most