Employee Contribution Elections and Contribution Allocations, 31345 [E9-15536]

Download as PDF 31345 Rules and Regulations Federal Register Vol. 74, No. 125 Wednesday, July 1, 2009 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. Prices of new books are listed in the first FEDERAL REGISTER issue of each week. this change as soon as practicable but no later than the first pay period in August. Gregory T. Long, Executive Director, Federal Retirement Thrift Investment Board. [FR Doc. E9–15536 Filed 6–30–09; 8:45 am] BILLING CODE 6760–01–P FEDERAL ELECTION COMMISSION FEDERAL RETIREMENT THRIFT INVESTMENT BOARD 11 CFR Part 111 [Notice 2009–09] 5 CFR Part 1600 Employee Contribution Elections and Contribution Allocations Interim final rule with request for comments. ACTION: SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is announcing the effective date of its regulation published on June 19, 2009 (74 FR 29111) pertaining to the timing of agency contributions. DATES: Effective Date: The Agency’s interim final rule published on June 19, 2009 (74 FR 29111) took effect on June 22, 2009 when President Obama signed HR 1256 (Pub. L. 111–31) which contained the Thrift Savings Plan Enhancement Act of 2009 (Act). FOR FURTHER INFORMATION CONTACT: Laurissa Stokes at (202) 942–1645. The Act provides that Agency Automatic (1%) Contributions and Agency Matching Contributions shall commence immediately. The regulatory amendment is necessary because FRTIB regulations follow current law, which provides that Agency Automatic (1%) Contributions and Agency Matching Contributions shall not commence until the equivalent of the second open season that begins after the employee commenced employment. The FRTIB is setting a August 1, 2009 effective date for this regulation to allow employing agencies sufficient time to make the necessary computer programming changes to implement it. The regulation took effect on June 22, 2009, and employing agencies must implement VerDate Nov<24>2008 14:55 Jun 30, 2009 Jkt 217001 Federal Election Commission. Final rules. AGENCY: ACTION: AGENCY: Federal Retirement Thrift Investment Board. SUPPLEMENTARY INFORMATION: Civil Monetary Penalties Inflation Adjustments SUMMARY: In accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended, the Federal Election Commission is adopting final rules to apply inflation adjustments to certain civil monetary penalties under the Federal Election Campaign Act of 1971, as amended (‘‘FECA’’), the Presidential Election Campaign Fund Act, and the Presidential Primary Matching Payment Account Act. The civil penalties being adjusted are for certain violations of these statutes that are not knowing and willful, involving contributions and expenditures; knowing and willful violations of the prohibition against the making of a contribution in the name of another; knowing and willful violations of the confidentiality provisions of FECA; certain penalties for late filed or non-filed reports under the administrative fines program; and failure to file timely 48-hour notices. The adjusted civil monetary penalties are calculated according to the formula set forth in the law and will be effective for violations occurring on or after the effective date of these rules. Further information is provided in the supplementary information that follows. DATES: Effective on July 1, 2009. FOR FURTHER INFORMATION CONTACT: Mr. Robert M. Knop, Assistant General Counsel, or Ms. Cheryl A.F. Hemsley, or Ms. Jessica Selinkoff, Attorneys, 999 E Street, NW., Washington, DC 20463, (202) 694–1650 or (800) 424–9530. SUPPLEMENTARY INFORMATION: The Federal Civil Penalties Inflation PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 Adjustment Act of 1990, as amended,1 (the ‘‘Inflation Adjustment Act’’) requires Federal agencies to adjust for inflation the civil monetary penalties within their jurisdiction at least once every four years according to detailed formulae. A civil monetary penalty (‘‘civil penalty’’) is defined in the Inflation Adjustment Act as any penalty, fine, or other sanction that is for a specific amount, or has a maximum amount, as provided by Federal law, and is assessed or enforced by an agency in an administrative proceeding or by a Federal court pursuant to Federal law.2 Further, the Inflation Adjustment Act contains a 10% penalty cap on the first adjustment of any civil penalty. That is, the first adjustment made to the civil penalty may not exceed 10% of the starting civil penalty.3 Under the Federal Election Campaign Act of 1971 (‘‘FECA’’), as amended, 2 U.S.C. 431 et seq., the Federal Election Commission (‘‘Commission’’) has jurisdiction over several civil penalties for respondents who violate FECA, the Presidential Election Campaign Fund Act, 26 U.S.C. 9001 et seq., or the Presidential Primary Matching Payment Account Act, 26 U.S.C. 9031 et seq. (‘‘chapters 95 and 96 of Title 26’’). These rules fulfill the Commission’s non-discretionary obligation under the Inflation Adjustment Act to adjust for inflation, according to the prescribed formula, the civil monetary penalties (‘‘civil penalties’’) within its jurisdiction. Immediate Effectiveness of Final Rule The Commission is required by statute to adjust the civil penalties under its jurisdiction by a Cost of Living Adjustment (‘‘COLA’’) formula. This application of the COLA does not involve Commission discretion or any policy judgments. Thus, the Commission finds that the ‘‘good cause’’ exception to the notice and comment requirement in section 553 of the Administrative Procedures Act applies to these rules because notice and comment are unnecessary. 5 U.S.C. 553(b)(B) and (d)(3). For the same reasons, these rules do not need to be submitted to the Speaker 1 28 U.S.C. 2461 note, as amended by Debt Collection Improvement Act of 1996, Public Law 104–134, 110 Stat. 1321–73, sec. 31001(s)(1) (1996); Public Law 105–362, 112 Stat. 3293 (1998). 2 28 U.S.C. 2461 note (3)(2). 3 28 U.S.C. 2461 note (7). E:\FR\FM\01JYR1.SGM 01JYR1

Agencies

[Federal Register Volume 74, Number 125 (Wednesday, July 1, 2009)]
[Rules and Regulations]
[Page 31345]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-15536]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
week.

========================================================================


Federal Register / Vol. 74, No. 125 / Wednesday, July 1, 2009 / Rules 
and Regulations

[[Page 31345]]



FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

5 CFR Part 1600


Employee Contribution Elections and Contribution Allocations

AGENCY: Federal Retirement Thrift Investment Board.

ACTION: Interim final rule with request for comments.

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

SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is 
announcing the effective date of its regulation published on June 19, 
2009 (74 FR 29111) pertaining to the timing of agency contributions.

DATES: Effective Date: The Agency's interim final rule published on 
June 19, 2009 (74 FR 29111) took effect on June 22, 2009 when President 
Obama signed HR 1256 (Pub. L. 111-31) which contained the Thrift 
Savings Plan Enhancement Act of 2009 (Act).

FOR FURTHER INFORMATION CONTACT: Laurissa Stokes at (202) 942-1645.

SUPPLEMENTARY INFORMATION: The Act provides that Agency Automatic (1%) 
Contributions and Agency Matching Contributions shall commence 
immediately. The regulatory amendment is necessary because FRTIB 
regulations follow current law, which provides that Agency Automatic 
(1%) Contributions and Agency Matching Contributions shall not commence 
until the equivalent of the second open season that begins after the 
employee commenced employment. The FRTIB is setting a August 1, 2009 
effective date for this regulation to allow employing agencies 
sufficient time to make the necessary computer programming changes to 
implement it. The regulation took effect on June 22, 2009, and 
employing agencies must implement this change as soon as practicable 
but no later than the first pay period in August.

Gregory T. Long,
Executive Director, Federal Retirement Thrift Investment Board.
[FR Doc. E9-15536 Filed 6-30-09; 8:45 am]
BILLING CODE 6760-01-P
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