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

1 S. 439, End Plush Retirements Act 1 (October 16, 2019)

handle is hein.congrec/cboendpls0001 and id is 1 raw text is: October 16, 2019 Congressional Budget Office SFCost Estimate By Fiscal Year, Millions of Dollars 2020 2020-2024 2020-2029 Direct Spending (Outlays) Revenues Increase or Decrease (-) in the Deficit * 0 * * -1 -3 1 3 S. 439 would allow Members of the House of Representatives who are elected after enactment and all Senators, including those elected before enactment, to opt out of the Federal Employee Retirement System (FERS) and still participate in the Thrift Savings Plan (TSP). Under current law: * Members of the House of Representatives who entered office in fiscal year 2004 or later may not opt out of FERS. Members who entered office before that date can opt out, but if they do so, they also lose their ability to participate in the TSP. * Senators can opt out of FERS, regardless of when they entered office, but are then unable to participate in the TSP. CBO estimates that enacting S. 439 would reduce revenues by $3 million over the 2020- 2029 period, because retirement contributions paid by some Members of Congress while in office would decline. (Retirement contributions by federal employees are recorded as revenues in the federal budget.) CBO estimates that enacting the bill also would reduce direct spending by an insignificant amount over the same period, mainly related to eliminating retirement annuities. In addition, CBO estimates that implementing the bill would reduce spending subject to appropriation by $3 million over the 2020-2024 period, assuming appropriations are reduced by the estimated amounts. See also CBO's Cost Estimates Explained, www.cbo.gov/publication/54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication!53519; and Glossary, www.cbo.gov/publication/42904.

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