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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 1606 - [Reserved] |
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Subpart B - Lost Earnings Attributable to Delayed or Erroneous Contributions |
§ 1606.6 - Agency delay in paying employee.
Latest version.
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Where, as the result of an employing agency error, a participant does not timely receive all or any part of the basic pay to which he or she is entitled, and as a result of that delay in receiving pay all or any part of the Employee Contributions, Agency Automatic (1%) Contributions, or Agency Matching Contributions are not submitted when they would have been had the employing agency error not occurred, all such belated Employee Contributions, Agency Automatic (1%) Contributions, and Agency Matching Contributions shall
be subject to lost earnings. The procedures described in paragraphs (a)(1) through (a)(4) of § 1606.5 shall apply to all such belated contributions.