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Search Tags:  Pension Protection Act

Bill automatically increases feds' TSP contributions

Sen. Daniel Akaka (D-Hawaii) introduced legislation Monday that would automatically increase new federal employees' contribution rate to their federal 401(k) style Thrift Savings Plan. the "Save More Tomorrow Act," would automatically escalate the contribution annually by 1 percent for the two years following enrollment. That gradually raises the contribution rate to 5 percent, making employees eligible for matching contributions from their agencies.

Tags: TSP , Daniel Akaka , Brigitte Madrian , Shlomo Benartzi , Richard Thaler , Save More Tomorrow Act

Monday - 05/14/2012, 04:33pm EDT