Privacy Act of 1974; System of Records
Pursuant to the Privacy Act of 1974, the Federal Retirement Thrift Investment Board (FRTIB) proposes to modify multiple existing systems of records notices to provide updated routine uses in accordance with OMB Memorandum M-17-12, to update the format in accordance with OMB Circular A-108, and to provide descriptions of previously published routine uses for purposes of consistency and transparency. Contact information is also being provided for the system manager.
Correction of Administrative Errors; Required Minimum Distributions
The Federal Retirement Thrift Investment Board (FRTIB) is amending its regulations to make a non-substantive change to the constructed share price formula for a retired Lifecycle (L) Fund. The FRTIB uses a constructed share price to make error corrections involving a retired L Fund. In addition, due to a recent change in the Internal Revenue Code (Code), the FRTIB is amending its regulations to change the age by which TSP participants must begin receiving distributions from their TSP accounts from 70\1/2\ to 72.