Privacy Act Regulations, Periodic Participant Statements and Court Orders and Legal Processes Affecting Thrift Savings Plan Accounts, 51353-51354 [E7-17646]

Agencies

• Federal Retirement Thrift Investment Board

[Federal Register Volume 72, Number 173 (Friday, September 7, 2007)]
[Rules and Regulations]
[Pages 51353-51354]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17646]



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Rules and Regulations
                                                Federal Register
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Federal Register / Vol. 72, No. 173 / Friday, September 7, 2007 / 
Rules and Regulations

[[Page 51353]]



FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

5 CFR Parts 1630, 1640 and 1653


Privacy Act Regulations, Periodic Participant Statements and 
Court Orders and Legal Processes Affecting Thrift Savings Plan Accounts

AGENCY: Federal Retirement Thrift Investment Board.

ACTION: Direct final rule.

-----------------------------------------------------------------------

SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is 
amending its regulations to reflect the Agency's use of account numbers 
in place of Social Security numbers as the primary way of identifying 
participants' TSP accounts as well as the replacement of the Personal 
Identification Numbers (PINs) with passwords to enter the Account 
Access portion of the TSP Web site. These changes represent enhanced 
security measures for the TSP.

DATES: This rule is effective October 1, 2007, without further action, 
unless adverse comment is received by September 21, 2007. If adverse 
comment is received, the Agency will publish a timely withdrawal of the 
rule in the Federal Register.

ADDRESSES: Comments may be sent to Thomas K. Emswiler, General Counsel, 
Federal Retirement Thrift Investment Board, 1250 H Street, NW., 
Washington, DC 20005. The Agency's Fax number is (202) 942-1676.

FOR FURTHER INFORMATION CONTACT: Megan Graziano on (202) 942-1660.

SUPPLEMENTARY INFORMATION: The Agency administers the TSP, which was 
established by the Federal Employees' Retirement System Act of 1986 
(FERSA), Public Law 99-335, 100 Stat. 514. The TSP provisions of FERSA 
are codified, as amended, largely at 5 U.S.C. 8351 and 8401-79. The TSP 
is a tax-deferred retirement savings plan for Federal civilian 
employees and members of the uniformed services. The TSP is similar to 
cash or deferred arrangements established for private-sector employees 
under section 401(k) of the Internal Revenue Code (26 U.S.C. 401(k)).

Privacy Act Regulations/Periodic Participant Statements/Court Orders 
and Legal Processes Affecting Thrift Savings Plan Accounts

    In order to provide increased account and identity security to its 
participants, the Agency is amending its privacy, participant 
statement, and court order and legal process regulations to reflect its 
use of account numbers in place of Social Security numbers as the 
primary means of identifying and accessing TSP participants' accounts 
as well as its use of longer and more complex Web passwords in place of 
4-digit PINs for access to the account information on the TSP Web site.

Regulatory Flexibility Act

    I certify that these regulations will not have a significant 
economic impact on a substantial number of small entities. They will 
affect only employees of the Federal Government.

Paperwork Reduction Act

    I certify that these regulations do not require additional 
reporting under the criteria of the Paperwork Reduction Act.

Unfunded Mandates Reform Act of 1995

    Pursuant to the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 602, 
632, 653, 1501-1571, the effects of this regulation on state, local, 
and tribal governments and the private sector have been assessed. This 
regulation will not compel the expenditure in any one year of $100 
million or more by state, local, and tribal governments, in the 
aggregate, or by the private sector. Therefore, a statement under Sec.  
1532 is not required.

Submission to Congress and the Government Accountability Office

    Pursuant to 5 U.S.C. 810(a)(1)(A), the Agency submitted a report 
containing this rule and other required information to the U.S. Senate, 
the U.S. House of Representatives, and the Comptroller General of the 
United States before publication of this rule in the Federal Register. 
This rule is not a major rule as defined at 5 U.S.C. 814(2).

List of Subjects

5 CFR Part 1630

    Privacy.

5 CFR Part 1640

    Government employees, Pensions, Retirement.

5 CFR Part 1653

    Alimony, Claims, Government employees, Pensions, Retirement.

Thomas K. Emswiler,
General Counsel, Federal Retirement Thrift Investment Board.

0
For the reasons set forth in the preamble, the Agency amends 5 CFR 
chapter VI as follows:

PART 1630--PRIVACY ACT REGULATIONS

0
1. The authority citation for part 1630 continues to read as follows:

    Authority: 5 U.S.C. 552a.


0
2. In Sec.  1630.2, redesignate paragraphs (c) through (p) as 
paragraphs (e) through (r), redesignate paragraphs (a) and (b) as 
paragraphs (b) and (c), and add new paragraphs (a) and (d) to read as 
follows:


Sec.  1630.2  Definitions.

* * * * *
    (a) Account number means the number assigned by the Agency to each 
participant's TSP account which serves as the primary identification 
mechanism for a participant's account. The participant's Social 
Security number will remain the identifier for the submission of data 
and funds from agency and uniformed services payroll offices, for the 
submission of information to the Internal Revenue Service about 
distributions, and for some other administrative purposes.
* * * * *
    (d) Case reference number means the number assigned by the Agency 
to the recipient of a court order payment or a death benefit payment.
* * * * *
0
3. Amend Sec.  1630.4 by revising the fifth sentence and adding a sixth 
and seventh sentence in paragraph (a)(1) and revising the fifth 
sentence in paragraph (a)(2) as follows:


Sec.  1630.4  Request for notification and access.

    (a) * * * (1) * * * A written inquiry from a participant must 
include the

[[Page 51354]]

participant's name and the participant's account number or Social 
Security number. A written inquiry from a spouse or former spouse or a 
beneficiary of the participant must include the inquiring party's name 
and Social Security number or, if available, the case reference number 
as well as the name and Social Security number or account number of the 
participant. Other third party inquiries (e.g., from other Federal 
agencies authorized to obtain information about the participant's 
account) must include, at a minimum, the participant's name and Social 
Security number.
* * * * *
    (2) * * * To access these features, the participant may be required 
to provide identity and account verification information such as his or 
her account number, PIN, or Web password.
* * * * *
0
4. Amend Sec.  1630.7 as follows:
0
a. Revised paragraph (b).
0
b. In the first sentence in paragraph (c)(1) after the words ``their 
respective'' add the words ``account numbers (or case reference 
numbers) or''.
0
c. In the first sentence in paragraph (c)(2) after the words and 
punctuation mark ``her name,'' add the words ``account number (or case 
reference number) or''.
0
d. In paragraph (c)(3) amend the second sentence and remove the third 
sentence as follows:


Sec.  1630.7  Identification requirements.

* * * * *
    (b) In writing. A participant shall provide his or her name, date 
of birth, and account number or Social Security number and shall sign 
the request. Most other individuals shall provide the participant's 
account number or Social Security number, shall provide a statement of 
relationship to the participant unless it is clearly identified in the 
nature of the correspondence, and shall sign the request. If a request 
for access is granted by mail and, in the opinion of the Privacy Act 
Officer or record keeper designee after consulting with the appropriate 
system manager, the disclosure of the records through the mail may 
result in harm or embarrassment (if a person other than the subject 
individual were to receive the records), a notarized statement of 
identity or some other similar assurance of identity will be required.
* * * * *
    (c) * * *
    (3) * * * These systems may require identity and account 
verification information such as the participant's account number and 
Web password or PIN for the Web site and ThriftLine respectively.

PART 1640--PERIODIC PARTICIPANT STATEMENTS

0
5. The authority citation for part 1640 continues to read as follows:

    Authority: 5 U.S.C. 8439(c)(1) and (c)(2), 5 U.S.C. 8474(b)(5) 
and (c)(1).

Sec.  1640.3  [Amended]

0
6. In Sec.  1640.3, paragraph (a), remove the words ``Social Security'' 
and add, in their place, the word ``account.''

PART 1653--COURT ORDERS AND LEGAL PROCESSES AFFECTING THRIFT 
SAVINGS PLAN ACCOUNTS

0
7. The authority citation for part 1653 continues to read as follows:

    Authority: 5 U.S.C. 8435, 8436(b), 8437(e), 8439(a)(3), 8467, 
8474(b)(5) and 8474(c)(1).


0
8. In Sec.  1653.2, paragraph (a)(3)(iv), revise Examples (1), (2), and 
(3) to read as follows:


Sec.  1653.2  Qualifying retirement benefits court orders.

    (a) * * *
    (3) * * *
    (iv) * * *

    Example (1). ORDERED: [payee's name, Social Security number 
(SSN), and address] is awarded $-------- from the [civilian or 
uniformed services] Thrift Savings Plan account of [participant's 
name, account number or SSN, and address].
    Example (2). ORDERED: [payee's name, SSN, and address] is 
awarded --------% of the [civilian and/or uniformed services] Thrift 
Savings Plan account[s] of [participant's name, account number or 
SSN, and address] as of [date].
    Example (3). ORDERED: [payee's name, SSN, and address] is 
awarded [fraction] of the [civilian and/or uniformed services] 
Thrift Savings Plan account[s] of [participant's name, account 
number or SSN, and address] as of [date].


Sec.  1653.3  [Amended]

0
9. In Sec.  1653.3(b)(1), before the words ``Social Security number 
(SSN)'' add the words ``account number or.''


Sec.  1653.13  [Amended]

0
10. In Sec.  1653.13(b)(1), before the words ``Social Security number 
(SSN)'' add the words ``account number or.''

 [FR Doc. E7-17646 Filed 9-6-07; 8:45 am]
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