To amend title 5, United States Code, to provide for the termination of further retirement coverage of Members of Congress, except for the right to participate in the Thrift Savings Plan, and for other purposes.

Amends the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS) to exclude Members of Congress from further CSRS and FERS retirement coverage.

Prohibits further government contributions or deductions from such Member's basic pay for deposit in the Treasury to the credit of the Civil Service Retirement and Disability Fund.

States that nothing in this Act shall: (1) be considered to nullify, modify, or otherwise affect any right, entitlement, or benefit under CSRS or FERS for any Member covering any period before the first day of the first Congress beginning after enactment of this Act; or (2) affect the eligibility of a Member to participate in the Thrift Savings Plan (TSP) in accordance with otherwise applicable law.