§ 1620.111 - Definitions.

As used in this subpart:

Authority means the District of Columbia Financial Responsibility and Management Authority.

Basic pay means basic pay as defined in 5 U.S.C. 8331(3), and it is the rate of pay used in computing any amount the individual is otherwise required to contribute to the Civil Service Retirement and Disability Fund as a condition for participating in the Civil Service Retirement System or the Federal Employees’ Retirement System, as the case may be.

CSRS means the Civil Service Retirement System established by subchapter III of chapter 83 of title 5, United States Code, or any equivalent Government retirement plan.

Election period means the last calendar month of an open season and is the period in which an election to make or change contributions during that open season can first become effective.

FERS means the Federal Employees’ Retirement System established by chapter 84 of title 5, United States Code, and any equivalent retirement system.

Open season means the period during which employees may make an election with respect to their contributions to the Thrift Savings Plan.

Recordkeeper means the organization under contract to the Board to perform recordkeeping services. This currently is the National Finance Center, United States Department of Agriculture, P.O. Box 61500, New Orleans, Louisiana 70161- 1500.

Retirement election means an election by an eligible employee of the Authority to remain covered by either CSRS or FERS.

Thrift Savings Plan (TSP) election means a request by an eligible employee to start contributing to the TSP, to terminate contributions to the TSP, to change the amount of contributions made to the TSP each pay period (including a request to terminate contributions), or to change the allocation of TSP contributions among the TSP investment funds, as described at 5 CFR 1600.4. A TSP election must be made on Form TSP-1, Thrift Savings Plan Election Form.