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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 5 - Administrative Personnel |
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Chapter VI - Federal Retirement Thrift Investment Board |
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Part 1655 - Loan Program |
§ 1655.2 - Eligibility for loans.
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§ 1655.2 Eligibility for loans.
A participant can apply for a TSP general purpose or residential loan if:
(a) More than 60 calendar 30 business days have elapsed since the participant has repaid in full a any TSP loan of the same type. ;
(b) The participant is in pay status;
(c) The participant is eligible to contribute to the TSP (or would be eligible to contribute but for the suspension of the participant's contributions because he or she obtained a financial hardship in-service withdrawal); ; and
(e) The participant has not had a TSP loan declared a taxable distribution within the last 12 months for any reason other than a separation from Government service(d) The participant has at least $1,000 in employee contributions and attributable earnings in his or her account; and
. Paragraph (b) of this section shall not apply to loan requests made during a Government shutdown by participants who are furloughed or excepted from furlough due to the Government shutdown.