#aacth ,,congress  #b;d ,session  ,s4   
#baag  ,,an ,,act  ,to amend title #e1  
,united ,states ,code1 to change the    
default investment fund under the       
,thrift ,savings ,plan1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,smart ,savings     
,act4  #b4 ,thrift ,savings ,plan       
default investment fund  7a7 ,in general
 ,section #hdch7;c77#b7 of title #e1    
,united ,states ,code1 is amended to    
read as follows3  7#b7 7,a7 ,except as  
provided in subparagraph 7,b71 if an    
election has not been made with respect 
to any sums available for investment in 
the ,thrift ,savings ,fund1 the         
,executive ,director shall invest such  
sums in an age-appropriate target date  
asset allocation portfolio of the funds 
described in subsection 7b71 as         
determined by the ,executive ,director4 
7,b7 ,if an election has not been made  
by a member 7as defined in section #baa 
of title #cg7 contributing to the       
,thrift ,savings ,fund under section    

#hddj;e with respect to any sums        
available for investment in such        
member's ,thrift ,savings ,fund account1
 the ,executive ,director shall invest  
such sums in the ,government ,securities
 ,investment ,fund4  4  7b7             
,acknowledgment of risk ,section        
#hdci7;d7 of title #e1 ,united ,states  
,code1 is amended-- 7#a7 by inserting   
7#a7 before ,each employee2 and  7#b7 by
 adding at the end the following3  7#b7 
,before the date on which an individual 
is enrolled to make contributions to the
 ,thrift ,savings ,fund1 or as soon as  
practical thereafter1 an individual who 
is automatically enrolled under section 
#hdcb7;b77#b7 shall receive the risk    
acknowledgment information described in 
paragraph 7#a74  4  7c7 ,technical and  
conforming amendment ,section           
#hdgb7;g77#b7 of title #e1 ,united      
,states ,code1 is amended by striking   
required by section #hdch of this title 
to be invested in securities of the     
,government and inserting under section 

#hdch7;c77#b77;,b74  7d7 ,guidance ,not 
later than #i months after the date of  
enactment of this ,act1 the ,executive  
,director 7as that term is defined under
 section #hdja7ac7 of title #e1 ,united 
,states ,code7 shall develop and issue  
guidance implementing the amendments    
made by this section4  7e7 ,effective   
date and application ,the amendments    
made by this section shall-- 7#a7 take  
effect on the date on which the         
,executive ,director issues guidance    
under subsection 7d72 and  7#b7 apply to
 individuals who enroll in the ,thrift  
,savings ,plan on or after such date4   
#c4 ,clarification of fiduciary         
protections ,section                    
#hdgg7;e77#a77;,c77ii7 of title #e1     
,united ,states ,code1 is amended-- 7#a7
 in subclause 7,,ii7-- 7,a7 by inserting
 or beneficiary after participant2 and  
7,b7 by inserting or option after fund2 
and  7#b7 in subclause 7,,iii7-- 7,a7 by
 inserting or beneficiary after         
participant2 and  7,b7 by inserting or  

beneficiaries'  after participants' 4   
,passed the ,senate ,september #af1     
#bjad4,secretary