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The Restoring Pension Promises to Workers Act of 2007 would require that wives and husbands of federal employees agree to the employees’ designation of another beneficiary to receive the money in their Thrift Savings Plan accounts if they die.
Under current law a federal employee with a TSP account may designate anyone as the beneficiary of the account upon the employee’s death.
Section 204 of the Restoring Pension Promises to Workers Act of 2007 would require that a spouse receive any TSP account balance if the employee dies unless the spouse consents to an alternative designated beneficiary.
Read Section 204 of the Restoring Pension Promises to Workers Act of 2007 [PDF]
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