AUTHORITY TO ESTABLISH MUTUAL FUND WINDOW.

SEC. 104. AUTHORITY TO ESTABLISH MUTUAL FUND WINDOW.(a) In General.—Section 8438(b)(1) of title 5, United States Code, is amended—(1) in subparagraph (D), by striking “and” at the end;(2) in subparagraph (E), by striking the period and inserting “; and”; and(3) by adding after subparagraph (E) the following:“(F) a service that enables participants to invest in mutual funds, if the Board authorizes the mutual fund window under paragraph (5).”.(b) Requirements.—Section 8438(b) of title 5, United States Code, is amended by adding at the end the following:“(5)(A) The Board may authorize the addition of a mutual fund window under the Thrift Savings Plan if the Board determines that such addition would be in the best interests of participants.“(B) The Board shall ensure that any expenses charged for use of the mutual fund window are borne solely by the participants who use such window.“(C) The Board may establish such other terms and conditions for the mutual fund window as the Board considers appropriate to protect the interests of participants, including requirements relating to risk disclosure.“(D) The Board shall consult with the Employee Thrift Advisory Council (established under section 8473) before authorizing the addition of a mutual fund window or establishing a service that enables participants to invest in mutual funds.”.(c) Technical and Conforming Amendment.—Section 8438(d)(1) of title 5, United States Code, is amended by inserting “and options” after “investment funds”.123 STAT. 1855