Video archive of the US Congress

House Proceeding on Apr 1st, 2009 :: 2:16:00 to 2:21:05
Total video length: 3 hours 27 minutes Stream Tools: Stream Overview | Edit Time

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Edolphus Towns

2:15:57 to 2:16:20( Edit History Discussion )

Edolphus Towns: purposes. the speaker pro tempore: pursuant to the rule, the gentleman from new york, mr. towns, and the gentleman from california, mr. issa, each will control 20 minutes. the chair recognizes gentleman from new york. mr. towns: i ask unanimous consent, mr. speaker, that all members may have five legislative days to revise and extend their remarks. the speaker pro tempore: without objection.

Edolphus Towns

2:16:00 to 2:21:05( Edit History Discussion )
Speech By: Edolphus Towns

Edolphus Towns

2:16:21 to 2:16:41( Edit History Discussion )

Edolphus Towns: mr. towns: time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. towns: bring to the floor h.r. 1804, the federal retirement reform act of 2009. the bill modernizes the thrift savings plan, the retirement

Edolphus Towns

2:16:42 to 2:17:02( Edit History Discussion )

Edolphus Towns: savings plan for federal employees, the legislation includes several other important retirement reforms for federal employees. and members of the armed forces. this bill enjoys strong bipartisan support. in the last congress when it passed the house as h.r. 1108.

Edolphus Towns

2:17:03 to 2:17:23( Edit History Discussion )

Edolphus Towns: two weeks ago the oversight and government reform committee again considered and reported favorably the current language of this bill. i am pleased that the bill makes further progress in ending the military family tax which unfairly mean -- penalizes those who unfairly died in service or

Edolphus Towns

2:17:24 to 2:17:44( Edit History Discussion )

Edolphus Towns: as a result of their service connected injuries. as chairman skelton will explain, this bill increases the monthly amounts paid to surviving spouse who are denied the full amount of their annuity under the survivor benefit plan. our enhancement to the t.s.p. program also will benefit

Edolphus Towns

2:17:45 to 2:18:06( Edit History Discussion )

Edolphus Towns: military members and their families. the federal employee thrift savings plan is one of the best retirement savings programs in the nation. the plan runs with very low cost, and is a model for both the private sector and other governments. the bill we are considering today will strengthen and

Edolphus Towns

2:18:07 to 2:18:28( Edit History Discussion )

Edolphus Towns: modernize the t.s.p. at the suggestion of the federal retirement thrift investment board, the bill provides for automatic enrollment in t.s.p. for new federal civilian employees. employees have the opportunity to choose whether to enroll or not, but for those who do not make any decision, enrollment

Edolphus Towns

2:18:29 to 2:18:49( Edit History Discussion )

Edolphus Towns: would be the default. the decision on automatic enrollment for members of the uniformed services is at the discretion of the secretary of the military departments. the bill would also provide a roth contribution option for t.s.p. with a roth option, employee contributions are made

Edolphus Towns

2:18:50 to 2:19:11( Edit History Discussion )

Edolphus Towns: after taxes are deducted. and the employee does not pay taxes on the fund upon withdrawal. this option isurrently available in many private sector retirement plans today. the bill also includes a provision to allow employees covered the federal employees retirement system to receive

Edolphus Towns

2:19:12 to 2:19:32( Edit History Discussion )

Edolphus Towns: credit for unused sick leave towards a retirement annuity. as is currently the case for employ service retirement systems. the committee also adopted amendments to make it easier for former employees to reinstate their retiremt credits if they return to federal service and to

Edolphus Towns

2:19:33 to 2:19:53( Edit History Discussion )

Edolphus Towns: work part-time at the end of their career. i want to recognize the federal work force subcommittee chairman , mr. lynch, who has really worked real hard on this and for his work on these issues and the bill. i also would like to thank representative norton,

Edolphus Towns

2:19:54 to 2:20:16( Edit History Discussion )

Edolphus Towns: representative van hollen, and representative connolly for their thoughtful amendments that improve the bill. i would like to thank the oversight committee ranking member, mr. issa, of california for his amendments that strengthen the legislation as it relates to members of the uniform svices. thank you for your input.

Edolphus Towns

2:20:17 to 2:20:37( Edit History Discussion )

Edolphus Towns: finally, i would like to thank chairman skelton and the armed services committee for their contribution to this bill that will provide better financial protection to the families of our military men and women. i urge my colleagues to support this legislation and i reserve the balance of m

Edolphus Towns

2:20:38 to 2:20:58( Edit History Discussion )

Edolphus Towns: the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from california. mr. issa: i would reserve at this time. the speaker pro tempore: the gentleman reserves. the gentleman from new york. mr. seton: i would like to recognize the -- mr. towns: i would like to recognize the gentleman from missouri, mr. skelton, a person who has worked really hard on this and done a fantastic job.

Edolphus Towns

2:20:59 to 2:21:06( Edit History Discussion )

Edolphus Towns: when it comes to military and military personnel he's always there doing the right thing. the speaker pro tempore: the gentleman from missouri is recognized for three minutes. mr. skelton: first i thank the

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