EANGUS strongly supports HR 4381- Servicemember Retirement Improvement Act introduced by Representative Sam Johnson (R-TX). This bill would stop the IRS from stifling Guard or Reserve service members’ ability to save for their retirement. Beginning in 2018, individuals entering the National Guard will receive government-matched retirement contributions in their Thrift Savings Plan (TSP) accounts. Current tax code limits all individuals under the age of 55 to contributing $18,000 toward their retirement each year. Future members of the National Guard, who max out their employer-contributed retirement account, could lose out on their government-matched TSP accounts. HR 4381 would allow members of the National Guard to max out their employer-contributed retirement account and their government-matched TSP account.
Call to Action 2016-01: HR 4381 – Servicemember Retirement Improvement Act
