,,ii  #aacth ,,congress  #b;d ,session  
,s4 #baag  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,march #ab1    
#bjad ,ms4 ,warren 7for herself and ,mr4
 ,portman7 introduced the following     
bill2 which was read twice and referred 
to the ,committee on ,homeland ,security
 and ,governmental ,affairs  ,a ,,bill  
,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 
covered under section #hdch7;c77#b77;,a7
 begins contributing to the ,thrift     
,savings ,fund1 the individual shall    
sign a risk acknowledgment described    
under 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 contributing to the ,thrift 
,savings ,fund on or after such date4