[Federal Register Volume 62, Number 115 (Monday, June 16, 1997)]
[Rules and Regulations]
[Page 32473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15723]
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Rules and Regulations
Federal Register
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This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
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Federal Register / Vol. 62, No. 115 / Monday, June 16, 1997 / Rules
and Regulations
[[Page 32473]]
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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
5 CFR Part 1690
Miscellaneous Regulations
AGENCY: Federal Retirement Thrift Investment Board.
ACTION: Final rule.
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SUMMARY: The Executive Director of the Federal Retirement Thrift
Investment Board (Board) is adopting as final the Board's interim
Thrift Savings Plan (TSP) plan year regulations.
DATES: This regulation is effective June 16, 1997.
FOR FURTHER INFORMATION CONTACT: Merritt A. Willing on (202) 942-1666.
SUPPLEMENTARY INFORMATION: The Board administers the TSP, a defined
contribution plan for Federal employees established by the Federal
Employees' Retirement System Act of 1986, Pub. L. 99-335, 100 Stat. 514
(codified, as amended, largely at 5 U.S.C. 8401-8479).
An employee benefit plan must establish a plan year for accounting
and auditing purposes. Under 5 U.S.C. 8439(b), the Board must engage a
certified public accountant to perform an annual audit of the Thrift
Savings Fund for the preceding year. A plan year must be established by
the TSP to allow these necessary audits to be performed. On November
12, 1987, the Board published an interim rule, with a request for
comments, in the Federal Register (52 FR 43315), establishing a plan
year for the TSP. For administrative convenience, the plan year adopted
by the Board is the same as the calendar year. Unless otherwise
indicated in future regulations, this plan year will apply in all cases
where the TSP must be evaluated on an annual basis. The sole exception
to this principle will be situations where the Board is subject to
Government financial requirements on a fiscal year basis. (The Federal
Government's fiscal year is October 1 through September 31.) The Board
received no comments on the interim rule and therefore is adopting it
as final without change.
Regulatory Flexibility Act
I certify that these regulations will not have a significant
economic impact on a substantial number of small entities. They will
affect only Federal Government procedures related to the TSP.
Paperwork Reduction Act
I certify that these regulations do not require additional
reporting under the criteria of the Paperwork Reduction Act of 1980.
Unfunded Mandates Reform Act of 1995
Pursuant to the Unfunded Mandates Reform Act of 1995, Pub. L. 104-
4, section 201, 109 Stat. 48, 64, the effect of these regulations on
State, local and tribal governments and on the private sector has been
assessed. This regulation will not compel the expenditure in any one
year of $100 million or more by any State, local or tribal governments
in the aggregate or by the private sector. Therefore, a statement under
section 202, 109 Stat. 48, 64-65, is not required.
Submission to Congress and the General Accounting Office
Under 5 U.S.C. 801(a)(1)(A), the Board submitted a report
containing this and other required information to the U.S. Senate, the
U.S. House of Representatives, and the Comptroller General of the
United States before the publication of this rule in today's Federal
Register. This rule is not a major rule as defined in 5 U.S.C. 804(2).
Federal Retirement Thrift Investment Board.
Roger W. Mehle,
Executive Director.
Accordingly, the interim rule adding 5 CFR Part 1690, which was
published at 52 FR 43315 on November 12, 1987, is adopted as final
without change.
[FR Doc. 97-15723 Filed 6-13-97; 8:45 am]
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