Allows electronic transfer of funds from Thrift Savings Fund accounts to qualified retirement plans.

The TSP Modernization Act permits the electronic transfer of funds from Thrift Savings Fund accounts to qualified retirement plans, starting one year after the bill's enactment. This electronic transfer is subject to the individual providing necessary information to the Federal Retirement Thrift Investment Board. The Executive Director, in consultation with the Secretary of the Treasury, must report to Congress on the implementation of this provision one year after the bill's enactment.

Allows electronic transfer of funds from Thrift Savings Fund accounts to qualified retirement plans.

The TSP Modernization Act permits the electronic transfer of funds from Thrift Savings Fund accounts to qualified retirement plans, starting one year after the bill's enactment. This electronic transfer is subject to the individual providing necessary information to the Federal Retirement Thrift Investment Board. The Executive Director, in consultation with the Secretary of the Treasury, must report to Congress on the implementation of this provision one year after the bill's enactment.