Summary: S.492 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.492. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/02/2017)

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.