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Bill

HR 4996

FORWARD Act

119th Congress Introduced by Wesley Bell and 8 co-sponsors

Allows eligible retired or 100% disabled military to contribute a portion of retirement pay or disability compensation to the Thrift Savings Plan (TSP).

Introduced in House
8
WeVote Research Nonpartisan
Bill Summary · HR 4996

Summary of HR 4996 - FORWARD Act

Overview

The FORWARD Act (H.R. 4996) is a legislative proposal introduced in the House of Representatives on August 19, 2025. The bill aims to amend Title 5 of the United States Code, allowing retired or certain disabled members of the uniformed services to contribute to the Thrift Savings Plan (TSP) after their separation from service.

Purpose and Intent

The primary intent of the FORWARD Act is to enhance the financial opportunities for retired and disabled veterans by enabling them to contribute a portion of their retirement pay or disability compensation to the TSP. This initiative seeks to improve the financial security of these individuals as they transition to civilian life.

Key Provisions

The bill includes several important provisions:

  1. Eligibility for Contributions:

    • Former members of the uniformed services who are entitled to retired pay or who receive a 100% disability compensation are eligible to contribute to the TSP.
    • Eligible individuals must not be currently employed and must have had an account in the TSP prior to their separation.

  2. Contribution Mechanism:

    • Eligible individuals can elect to contribute a portion of their retired pay or disability compensation to the TSP, following the guidelines established under section 8432(b) of Title 5.

  3. Regulatory Framework:

    • The Federal Retirement Thrift Investment Board, in coordination with the Department of Defense and the Department of Veterans Affairs, is required to issue regulations to implement the provisions of this Act within 180 days of its enactment.

Impact

The FORWARD Act is expected to benefit:
- Retired Military Personnel: Those who have served in the uniformed services and are now retired or disabled will have increased options for managing their retirement savings.
- Financial Security: By allowing contributions to the TSP, the bill aims to enhance the financial stability of veterans, helping them to better prepare for retirement.

Legislative Process

  • The bill was introduced by Mrs. Kiggans of Virginia and co-sponsored by Mr. Bell.
  • It has been referred to the House Committee on Oversight and Government Reform for further consideration.

Conclusion

The FORWARD Act represents a significant step towards improving the financial landscape for retired and disabled members of the uniformed services, allowing them to take greater control over their retirement savings through the Thrift Savings Plan. The proposed changes aim to provide these individuals with more robust financial tools as they transition to civilian life.

Compiled from official sources — confirm details with the bill’s official record.

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