A bill to amend title 5, United States Code, to provide for procedures for the investment and payment of interest of funds in the Thrift Savings Fund when restrictions on such investments and payments are caused by the statutory public debt limit.
Thrift Savings Fund Investment Act of 1987 - Authorizes the Secretary of the Treasury to suspend the issuance of additional obligations of the United States, for purchase by the Thrift Savings Fund for the Government Securities Investment Fund (Fund), if such issuances could not be made without causing the public debt to exceed the public debt limit.
Requires, upon expiration of the debt issuance suspension, the issuance of obligations that bear such interest rates and maturity dates as ensure the replication of obligations that would be held by the Fund if such suspension period had not occurred.
Requires the Secretary to pay to the Fund the excess of the net amount of interest that would have been earned during the suspension period.
Requires the Executive Director of the Federal Retirement Thrift Investment Board, on each business day during the debt issuance suspension period, to notify the Secretary of the amounts, by maturity, that would have been invested or redeemed each day had the suspension period not occurred.
Sets forth reporting requirements for the Secretary regarding the operation and status of the Thrift Savings Fund.
Introduced in Senate
Introduced in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 121.
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Passed Senate without amendment by Voice Vote.
Message on Senate action sent to the House.
Called up by House by Unanimous Consent.
Passed/agreed to in House: Passed House by Voice Vote.
Passed House by Voice Vote.
Measure Signed in Senate.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 100-43.
Became Public Law No: 100-43.
Enacted as Public Law 100-43
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