S 204
Emergency Relief for Federal Workers Act of 2019
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Bill overview
The Emergency Relief for Federal Workers Act of 2019 provides temporary relief to federal employees affected by government shutdowns. It allows these employees to withdraw funds from their Thrift Savings Plan (TSP) without penalty, up to a maximum of $30,000 during a ‘qualified lapse in appropriations’ (a shutdown lasting at least two weeks). The bill also permits in-service withdrawals based on financial hardship and waives penalties for missed loan payments related to TSP loans during these shutdowns, ensuring continued contributions to the TSP.
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