Cost-of-Living Adjustments and Identity Verification, 12431-12432 [2020-03553]
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12431
Rules and Regulations
Federal Register
Vol. 85, No. 42
Tuesday, March 3, 2020
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.
FEDERAL RETIREMENT THRIFT
INVESTMENT BOARD
5 CFR Parts 1630, 1632 and 1650
Cost-of-Living Adjustments and
Identity Verification
Federal Retirement Thrift
Investment Board.
ACTION: Final rule.
AGENCY:
The Federal Retirement Thrift
Investment Board (FRTIB) is amending
its regulations to change the cost-ofliving adjustment rate used to calculate
the annual increase for annuities with
an increasing payment option and to
clarify its requirements regarding
identification verification and
availability of announcements of
meetings open to public observation.
DATES: This rule is effective March 1,
2020.
FOR FURTHER INFORMATION CONTACT:
Austen Townsend, (202) 864–8647.
SUPPLEMENTARY INFORMATION: The
FRTIB administers the Thrift Savings
Plan (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)).
On December 17, 2019, the FRTIB
published a proposed rule with request
for comments in the Federal Register
(84 FR 68815) and, for the reasons
described below, is publishing the
proposed rule as final without change.
The proposed rule amended 5 CFR
1650.14(g) to provide for a fixed cost-ofliving adjustment (COLA) rate of 2
percent for annuities with an increasing
payment option. Several commentators
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SUMMARY:
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expressed concern that a fixed rate of 2
percent would not provide adequate
inflation protection for participants over
the long term and was a cost-saving
measure for FRTIB. As noted in the
preamble to the proposed rule, the
FRTIB will regularly review the COLA
to ensure that it continues to be
beneficial for TSP participants.
Moreover, all TSP assets are held in
trust and any savings that result from
the COLA change will be passed along
to participants, not the FRTIB.
The proposed rule also amended (1) 5
CFR 1630.4(a) and 1630.7(c) to clarify
that TSP participants may be required to
provide identifying particulars to access
their account information; and (2) 5 CFR
1632.4(c) to reflect the FRTIB’s existing
practice of maintaining the annual
Board meeting schedule online at
frtib.gov and publishing announcements
of meetings open to public observation
in the Federal Register. The FRTIB
received no comments on these changes.
Regulatory Flexibility Act
I certify that this regulation will not
have a significant economic impact on
a substantial number of small entities.
This regulation will affect Federal
employees, members of the uniformed
services who participate in the TSP, and
beneficiary participants.
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, and 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 2 U.S.C. 1532 is not
required.
Submission to Congress and the
General Accounting 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
PO 00000
Frm 00001
Fmt 4700
Sfmt 4700
publication of this rule in the Federal
Register. This rule is not a major rule as
defined at 5 U.S.C. 804(2).
List of Subjects
5 CFR Part 1630
Privacy.
5 CFR Part 1632
Sunshine Act.
5 CFR Part 1650
Alimony, Claims, Government
employees, Pensions, Retirement.
Ravindra Deo,
Executive Director, Federal Retirement Thrift
Investment Board.
For the reasons stated in the
preamble, the FRTIB amends 5 CFR
Chapter VI as follows:
PART 1630—PRIVACY ACT
REGULATIONS
1. The authority citation continues to
read as follows:
■
Authority: 5 U.S.C. 552a.
2. Amend § 1630.4 by revising
paragraph (a)(2) to read as follows:
■
§ 1630.4
access.
Request for notification and
(a) * * *
(2) Participants may also inquire
whether this system contains records
about them and access certain records
through the account access section of
the TSP website and the ThriftLine (the
TSP’s automated telephone system). The
TSP website is www.tsp.gov. To use the
TSP ThriftLine, the participant must
have a touch-tone telephone and call
(877) 968–3778. Information such as
account balance and transaction status
is available on the TSP website and the
ThriftLine. To access these features, the
participant may be required to verify his
or her identity by providing identifying
particulars.
*
*
*
*
*
■ 3. Amend § 1630.7 by revising
paragraph (c)(3) to read as follows:
§ 1630.7
Identification requirements.
*
*
*
*
*
(c) * * *
(3) A participant may also access the
TSP website or call the TSP ThriftLine
to obtain account information. These
systems may require identity and
account verification information and
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03MRR1
12432
Federal Register / Vol. 85, No. 42 / Tuesday, March 3, 2020 / Rules and Regulations
may require the participant to verify his
or her identity by providing identifying
particulars.
DEPARTMENT OF TRANSPORTATION
PART 1632—RULES REGARDING
PUBLIC OBSERVATION OF MEETINGS
14 CFR Part 71
4. The authority for this citation
continues to read as follows:
■
Amendment of Class E Airspace;
Missoula, MT
5. Amend § 1632.4 by revising
paragraph (c) to read as follows:
■
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
§ 1632.4 Meetings open to public
observation.
*
*
*
*
*
(c) The annual Board meeting
schedule will be maintained on
frtib.gov. In addition, agency
announcements of meetings open to
public observation will be published in
the Federal Register. Requests for
announcements may be made by
telephoning or by writing to the Office
of External Affairs, Federal Retirement
Thrift Investment Board, 77 K Street NE,
Suite 1000, Washington, DC 20002.
PART 1650—METHODS OF
WITHDRAWING FUNDS FROM THE
THRIFT SAVINGS PLAN
6. The authority citation continues to
read as follows:
■
Authority: 5 U.S.C. 8351, 8432d, 8433,
8434, 8435, 8474(b)(5) and 8474(c)(1).
7. Amend § 1650.14 by revising
paragraph (g)(4) to read as follows:
■
Annuities.
*
*
*
*
*
(g) * * *
(4) Either a single life or joint (with
spouse) life annuity with increasing
payments. This annuity provides
monthly payments to the participant
only, or to the participant and spouse,
as applicable. The monthly payments
are increased once each year on the
anniversary of the first payment by a
fixed rate of 2 percent. If the participant
chooses a joint life annuity, the annual
2 percent increase also applies to
benefits received by the survivor.
*
*
*
*
*
[FR Doc. 2020–03553 Filed 2–28–20; 12:00 pm]
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BILLING CODE 6760–01–P
[Docket No. FAA–2019–0761; Airspace
Docket No. 19–ANM–18]
RIN 2120–AA66
Authority: 5 U.S.C. 552b and 8474.
§ 1650.14
Federal Aviation Administration
This action amends Class E
airspace designated as an extension to a
Class D or Class E surface area at the
Missoula International Airport,
Missoula, MT. This action also amends
the Class E airspace extending upward
from 700 above the surface at the
airport. Additionally, the action amends
the Class E airspace extending upward
from 1,200 above the surface at the
airport. Further, this action removes the
Missoula VORTAC from the legal
description. Lastly, the action makes
administrative updates to the Class D
and Class E2 legal descriptions.
DATES: Effective 0901 UTC, May 21,
2020. The Director of the Federal
Register approves this incorporation by
reference action under Title 1 Code of
Federal Regulations part 51, subject to
the annual revision of FAA Order
7400.11 and publication of conforming
amendments.
ADDRESSES: FAA Order 7400.11D,
Airspace Designations and Reporting
Points, and subsequent amendments can
be viewed online at https://
www.faa.gov//air_traffic/publications/.
For further information, you can contact
the Airspace Policy Group, Federal
Aviation Administration, 800
Independence Avenue SW, Washington,
DC 20591; telephone: (202) 267–8783.
The Order is also available for
inspection at the National Archives and
Records Administration (NARA). For
information on the availability of FAA
Order 7400.11D at NARA, email
fedreg.legal@nara.gov or go to https://
www.archives.gov/federal-register/cfr/
ibr-locations.html.
FOR FURTHER INFORMATION CONTACT:
Matthew Van Der Wal, Federal Aviation
Administration, Western Service Center,
Operations Support Group, 2200 S
216th Street, Des Moines, WA 98198;
telephone (206) 231–3695.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Authority for This Rulemaking
The FAA’s authority to issue rules
regarding aviation safety is found in
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Title 49 of the United States Code.
Subtitle I, Section 106 describes the
authority of the FAA Administrator.
Subtitle VII, Aviation Programs,
describes in more detail the scope of the
agency’s authority. This rulemaking is
promulgated under the authority
described in Subtitle VII, Part A,
Subpart I, Section 40103. Under that
section, the FAA is charged with
prescribing regulations to assign the use
of airspace necessary to ensure the
safety of aircraft and the efficient use of
airspace. This regulation is within the
scope of that authority as it would
amend Class D and Class E airspace at
Missoula International Airport,
Missoula, MT, to ensure the safety and
management of Instrument Flight Rules
(IFR) operations at the airport.
History
The FAA published a notice of
proposed rulemaking in the Federal
Register (84 FR 54792; October 11,
2019) for Docket No. FAA–2019–0761 to
amend Class E airspace at Missoula
International Airport, Missoula, MT.
Interested parties were invited to
participate in this rulemaking effort by
submitting written comments on the
proposal to the FAA. The FAA received
one non-substantive comment
discussing the potential impact on
property values in the area. Though the
comment isn’t substantive, this action
reduces the lateral boundaries for most
of the Class E airspace established for
the Missoula International Airport. The
radius of the Class E airspace designated
as a surface area will not change. The
lateral boundaries of one area to the
southeast of the airport will increase
slightly.
Subsequent to the publication of the
NPRM, the FAA determined that a
minor modification to one Class E
airspace area, designated as an
extension to a Class D or Class E surface
area, would be beneficial. The NPRM
defined this area as; within 0.7 miles
each side of the 142° bearing extending
from the 4.4-mile radius to 5.6 miles
southeast of the airport. The NPRM
definition created a small space or gap
between this area and a nearby area of
similar airspace. Additionally, the
minimum distance authorized for the
width of controlled airspace along a
bearing is 1.0 mile. To remove this gap,
enhance aeronautical charting and meet
the minimum requirement for airspace
widths, the area will be defined as;
within 1.0 miles northeast and 1.2 miles
southwest of the 142° bearing from the
airport, extending from the 4.4-mile
radius to 5.6 miles southeast of the
airport.
E:\FR\FM\03MRR1.SGM
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]]>Agencies
[Federal Register Volume 85, Number 42 (Tuesday, March 3, 2020)]
[Rules and Regulations]
[Pages 12431-12432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03553]
========================================================================
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.
========================================================================
Federal Register / Vol. 85, No. 42 / Tuesday, March 3, 2020 / Rules
and Regulations
[[Page 12431]]
FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
5 CFR Parts 1630, 1632 and 1650
Cost-of-Living Adjustments and Identity Verification
AGENCY: Federal Retirement Thrift Investment Board.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Federal Retirement Thrift Investment Board (FRTIB) is
amending its regulations to change the cost-of-living adjustment rate
used to calculate the annual increase for annuities with an increasing
payment option and to clarify its requirements regarding identification
verification and availability of announcements of meetings open to
public observation.
DATES: This rule is effective March 1, 2020.
FOR FURTHER INFORMATION CONTACT: Austen Townsend, (202) 864-8647.
SUPPLEMENTARY INFORMATION: The FRTIB administers the Thrift Savings
Plan (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)).
On December 17, 2019, the FRTIB published a proposed rule with
request for comments in the Federal Register (84 FR 68815) and, for the
reasons described below, is publishing the proposed rule as final
without change. The proposed rule amended 5 CFR 1650.14(g) to provide
for a fixed cost-of-living adjustment (COLA) rate of 2 percent for
annuities with an increasing payment option. Several commentators
expressed concern that a fixed rate of 2 percent would not provide
adequate inflation protection for participants over the long term and
was a cost-saving measure for FRTIB. As noted in the preamble to the
proposed rule, the FRTIB will regularly review the COLA to ensure that
it continues to be beneficial for TSP participants. Moreover, all TSP
assets are held in trust and any savings that result from the COLA
change will be passed along to participants, not the FRTIB.
The proposed rule also amended (1) 5 CFR 1630.4(a) and 1630.7(c) to
clarify that TSP participants may be required to provide identifying
particulars to access their account information; and (2) 5 CFR
1632.4(c) to reflect the FRTIB's existing practice of maintaining the
annual Board meeting schedule online at frtib.gov and publishing
announcements of meetings open to public observation in the Federal
Register. The FRTIB received no comments on these changes.
Regulatory Flexibility Act
I certify that this regulation will not have a significant economic
impact on a substantial number of small entities. This regulation will
affect Federal employees, members of the uniformed services who
participate in the TSP, and beneficiary participants.
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, and 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 2 U.S.C. 1532 is not required.
Submission to Congress and the General Accounting 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. 804(2).
List of Subjects
5 CFR Part 1630
Privacy.
5 CFR Part 1632
Sunshine Act.
5 CFR Part 1650
Alimony, Claims, Government employees, Pensions, Retirement.
Ravindra Deo,
Executive Director, Federal Retirement Thrift Investment Board.
For the reasons stated in the preamble, the FRTIB amends 5 CFR
Chapter VI as follows:
PART 1630--PRIVACY ACT REGULATIONS
0
1. The authority citation continues to read as follows:
Authority: 5 U.S.C. 552a.
0
2. Amend Sec. 1630.4 by revising paragraph (a)(2) to read as follows:
Sec. 1630.4 Request for notification and access.
(a) * * *
(2) Participants may also inquire whether this system contains
records about them and access certain records through the account
access section of the TSP website and the ThriftLine (the TSP's
automated telephone system). The TSP website is www.tsp.gov. To use the
TSP ThriftLine, the participant must have a touch-tone telephone and
call (877) 968-3778. Information such as account balance and
transaction status is available on the TSP website and the ThriftLine.
To access these features, the participant may be required to verify his
or her identity by providing identifying particulars.
* * * * *
0
3. Amend Sec. 1630.7 by revising paragraph (c)(3) to read as follows:
Sec. 1630.7 Identification requirements.
* * * * *
(c) * * *
(3) A participant may also access the TSP website or call the TSP
ThriftLine to obtain account information. These systems may require
identity and account verification information and
[[Page 12432]]
may require the participant to verify his or her identity by providing
identifying particulars.
PART 1632--RULES REGARDING PUBLIC OBSERVATION OF MEETINGS
0
4. The authority for this citation continues to read as follows:
Authority: 5 U.S.C. 552b and 8474.
0
5. Amend Sec. 1632.4 by revising paragraph (c) to read as follows:
Sec. 1632.4 Meetings open to public observation.
* * * * *
(c) The annual Board meeting schedule will be maintained on
frtib.gov. In addition, agency announcements of meetings open to public
observation will be published in the Federal Register. Requests for
announcements may be made by telephoning or by writing to the Office of
External Affairs, Federal Retirement Thrift Investment Board, 77 K
Street NE, Suite 1000, Washington, DC 20002.
PART 1650--METHODS OF WITHDRAWING FUNDS FROM THE THRIFT SAVINGS
PLAN
0
6. The authority citation continues to read as follows:
Authority: 5 U.S.C. 8351, 8432d, 8433, 8434, 8435, 8474(b)(5)
and 8474(c)(1).
0
7. Amend Sec. 1650.14 by revising paragraph (g)(4) to read as follows:
Sec. 1650.14 Annuities.
* * * * *
(g) * * *
(4) Either a single life or joint (with spouse) life annuity with
increasing payments. This annuity provides monthly payments to the
participant only, or to the participant and spouse, as applicable. The
monthly payments are increased once each year on the anniversary of the
first payment by a fixed rate of 2 percent. If the participant chooses
a joint life annuity, the annual 2 percent increase also applies to
benefits received by the survivor.
* * * * *
[FR Doc. 2020-03553 Filed 2-28-20; 12:00 pm]
BILLING CODE 6760-01-P
