Max Cleland: “I am extremely pleased to offer an amendment to S. 4 with my colleagues, Senator Jeffords, Senator Bingaman, and Senator…”

“I am extremely pleased to offer an amendment to S. 4 with my colleagues, Senator Jeffords, Senator Bingaman, and Senator Landrieu. Of course, S. 4 is the Soldiers', Sailors', Airmen's and Marines' Bill of Rights Act of 1999. This legislation will give the men and women of the National Guard and Reserve the opportunity to participate in the Thrift Savings Plan. S. 4 offers this benefit to their active duty counterparts. Our amendment will offer this to men and women of the National Guard and Reserve. The Thrift Savings Plan is an excellent way for military families to save for the future. It is not meant to take the place of a retirement system. It is a tax-deferred savings plan that will grow while a service member is actually serving, unlike the delayed benefits of the military retirement system. Furthermore, the Thrift Savings Plan is a portable benefit that can be rolled over into a civilian 401(k) plan, in the event the service member, for whatever reason, must leave military service. In my opinion, the men and women of the Guard and Reserve must be given the same opportunity to participate in this excellent savings plan as their active duty counterparts. Although the amount of money they will be able to deposit in the Thrift Savings Plan may not be substantial at first, every dollar counts.”