Federal Retirement Thrift Investment Board – Federal Register Recent Federal Regulation Documents
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Availability of Records; Correction
The Federal Retirement Thrift Investment Board (Agency) published a direct final rule in the February 27, 2012, Federal Register, pursuant to the Privacy Act of 1974, as amended, to permit Freedom of Information Act (FOIA) requests via electronic mail and facsimile. The direct final rule was published with an incorrect facsimile number. This facsimile number publication was a technical error, and is hereby corrected.
Roth Feature to the Thrift Savings Plan and Miscellaneous Uniformed Services Account Amendments
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations to add a Roth feature to the Thrift Savings Plan. This final rule also reorganizes regulatory provisions pertaining to uniformed services accounts.
Privacy Act of 1974; System of Records; Correction
The Federal Retirement Thrift Investment Board (Agency) published a document in the April 14, 1987, Federal Register, 52 FR 12065, pursuant to the Privacy Act of 1974, 5 U.S.C. 552a, as amended, in order to describe its new system of records. This system of records included FRTIB-1. On May 7, 1990, the Agency published a notice making the system of records final. 55 FR 18949. The 1990 publication of FRTIB-1 purported to account for each routine use and to provide justification for each deleted routine use. However, subpart ``r'' was deleted without justification. Internal Agency documents show that routine use ``r'' was omitted from the 1990 publication as a result of scrivener's error. Therefore, since this omission was unintentional, routine use ``r'' has been in effect since the 1987 publication. In order to reform the system of records to the Agency's intent, this notice restores routine use ``r'' to the 1990 notice and to each subsequent version (FR Doc. 90-10373, FR Doc. 94-12321, FR Doc. 99- 23830, FR Doc. E9-887) of FRTIB-1. This deletion was a technical error, and is hereby corrected.
Change of Address and Electronic Submission of FOIA Requests
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations to reflect its new office address and to permit Freedom of Information Act (FOIA) requests via electronic mail and facsimile.
Privacy Act of 1974; Systems of Records
The Federal Retirement Thrift Investment Board (Agency) is proposing to revise its Privacy Act Systems of Records to reflect the Agency's new office address.
Correction of Administrative Errors; Court Orders and Legal Processes Affecting Thrift Savings Plan Accounts
The Federal Retirement Thrift Investment Board (Agency) is issuing an interim final rule to amend its regulations governing back pay awards and retirement benefits court orders. This rule clarifies that the regulations governing a participant's options for electing makeup contributions when he or she receives a back pay award or other retroactive pay adjustment apply when the back pay award or other retroactive pay adjustment is for a period during which the participant was not appointed to a position that is covered by FERS, CSRS, or an equivalent system under which TSP participation is authorized. This rule also clarifies that an attorney is not a permissible payee for a retirement benefits court order or legal process affecting the Thrift Savings Plan and ensures that the date used to compute earnings on a court-ordered distribution amount is the same as the date used to compute the payee's entitlement.
Senior Executive Service Performance Review Board
This notice announces the appointment of the members of the Senior Executive Service Performance Review Boards for the Federal Retirement Thrift Investment Board. The purpose of the Performance Review Boards is to view and make recommendations concerning proposed performance appraisals, ratings, and bonuses, and other appropriate personnel actions for members of the Senior Executive Service.
Court Orders and Legal Processes Affecting Thrift Savings Plan Accounts
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations at 5 CFR part 1653. Based on the Agency's memorandum of understanding and data match program with the Department of Health and Human Services, Administration for Children and Families, Federal Office of Child Support Enforcement (OCSE), as well as a legislative amendment which subjects TSP accounts to orders issued pursuant to the Mandatory Victims Restitution Act (MVRA), the Agency's court order volume has significantly increased and will likely continue to increase significantly. In order to promote efficiency and equity in light of this current and likely future increase in the Agency's court order workload, the Agency is amending its regulations to shorten the time period in which child support orders and MVRA orders are payable. The amendments clarify that these payments are subject to Federal income tax withholding and that tax withholding cannot be waived. Further, the amendments provide that when payment of a qualifying retirement benefits order is to be made to a participant's current or former spouse, the payee may request to have the payment made as early as 30 days after the date of the TSP decision letter. The Agency considers these amendments to be procedural in character. As a result, no notice and comment period is required by the Administrative Procedure Act. See 5 U.S.C. 553(b)(A).
Employee Contribution Elections and Contribution Allocations; Uniformed Services Accounts; Methods of Withdrawing Funds From the Thrift Savings Plan; Death Benefits; Thrift Savings Plan
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations to establish procedures to maintain beneficiary participant accounts for spouse beneficiaries in accordance with the Thrift Savings Plan Enhancement Act of 2009.
Senior Executive Service Performance Review Board
This notice announces the appointment of the members of the Senior Executive Service Performance Review Boards for the Federal Retirement Thrift Investment Board. The purpose of the Performance Review Boards is to view and make recommendations concerning proposed performance appraisals, ratings, and bonuses, and other appropriate personnel actions for members of the Senior Executive Service.
Correction of Administrative Errors
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations to provide a constructed share price for retired Lifecycle funds. The Agency will use the constructed share price to make error corrections after December 31st of the target year.
Employee Contribution Elections and Contribution Allocations; Uniformed Services Accounts; Death Benefits; Thrift Savings Plan
The Federal Retirement Thrift Investment Board (Agency) proposes to amend its regulations to establish procedures to maintain beneficiary participant accounts for spouse beneficiaries in accordance with the Thrift Savings Plan Enhancement Act of 2009.
Participants' Choices of TSP Funds
This document contains a correction to a final regulation that amended the Thrift Savings Plan regulations, which was published in the Federal Register of June 1, 2005 (70 FR 32208).
Correction of Administrative Errors
The Federal Retirement Thrift Investment Board (Agency) proposes to use a constructed share price for retired Lifecycle funds in order to make error corrections after December 31st of the target year.
Uniformed Services Accounts and Death Benefits
The Federal Retirement Thrift Investment Board (Agency) is making several changes to its death benefits regulations. In particular, it is expanding the requirements necessary in order for a designation of beneficiary form to be valid. This change will also allow participants holding both a uniformed services and civilian account to submit a single designation of beneficiary form which can be used to designate beneficiaries for both accounts. The Agency is also amending its death benefit regulations to allow participants to designate a custodian under the Uniform Transfers to Minors Act as a beneficiary, permit the Agency to defer to state law when a potential beneficiary is implicated in the death of a participant and is subsequently found not guilty by reason of insanity, and require a notary to witness disclaimers of death benefits.
Employee Contribution Elections and Contribution Allocations
The Federal Retirement Thrift Investment Board (Agency) is amending its regulations at 5 CFR part 1600. These changes implement the Agency's automatic enrollment program as authorized by the Thrift Savings Plan Enhancement Act of 2009.
Uniformed Services Accounts and Death Benefits
The Federal Retirement Thrift Investment Board (Agency) proposes to make several changes to its death benefits regulations. In particular, it proposes to expand the requirements necessary in order for a designation of beneficiary form to be valid. This change would also allow participants holding both a uniformed services and civilian account to submit a single designation of beneficiary form which can be used to designate beneficiaries for both accounts. The Agency also proposes to amend its death benefit regulations to allow participants to designate a custodian under the Uniform Transfers to Minors Act as a beneficiary, to permit the Agency to defer to State law when a potential beneficiary is implicated in the death of a participant and is subsequently found not guilty by reason of insanity, and to require a notary to witness disclaimers of death benefits.
Employee Contribution Elections and Contribution Allocations
The Federal Retirement Thrift Investment Board (Agency) proposes to amend its regulations at 5 CFR part 1600. These changes implement the Agency's automatic enrollment program as authorized by the Thrift Savings Plan Enhancement Act of 2009.
