94-20035. Employee Elections To Contribute to the Thrift Savings Plan  

  • [Federal Register Volume 59, Number 157 (Tuesday, August 16, 1994)]
    [Unknown Section]
    [Page 0]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 94-20035]
    
    
    [[Page Unknown]]
    
    [Federal Register: August 16, 1994]
    
    
                                                       VOL. 59, NO. 157
    
                                               Tuesday, August 16, 1994
    
    FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
    
    5 CFR Part 1600
    
     
    
    Employee Elections To Contribute to the Thrift Savings Plan
    
    agency: Federal Retirement Thrift Investment Board.
    
    action: Proposed rule.
    
    -----------------------------------------------------------------------
    
    summary: The Federal Retirement Thrift Investment Board (Board) 
    proposes to amend its regulations that describe the periods within 
    which employees may make certain elections in regard to contributions 
    to the Thrift Savings Plan (TSP) This amendment will establish a 
    permanent schedule of TSP open seasons, thereby eliminating the 
    regulatory requirement that the Board publish an advance notice in the 
    Federal Register announcing the beginning and ending dates of each open 
    season.
    
    dates: Written comments must be received on or before October 17, 1994.
    
    addresses: Comments may be sent to David L. Hutner, Assistant General 
    Counsel (Programs), Federal Retirement Thrift Investment Board, 1250 H 
    Street NW., Washington, DC 20005
    
    for further information contact: David L. Hutner at (202) 942-1661.
    
    supplementary information: Each year, there are two open seasons during 
    which participants may elect to commence contributions to the TSP, 
    change the amount of their contributions or the allocation of their 
    contributions among the TSP investment funds, or terminate 
    contributions without forfeiting the ability to resume contributing 
    during the next open season. The regulatory notice requirement for open 
    seasons was established by the Board in 1987 shortly after the Thrift 
    Savings Plan came into existence. At that time, it was not clear 
    whether open seasons would occur at the same time and for the same 
    duration each year. However, since then, there have been two open 
    seasons each year: May 15-July 31 and November 15-January 31. The last 
    month of each open season has been designated the ``election period'', 
    which is defined in 5 CFR Sec. 1600.1. Since the open seasons have not 
    varied since 1988, the Board is now amending its regulations to 
    establish a permanent schedule for the beginning and ending dates and 
    to eliminate the requirement that an advance notice of each open season 
    be published in the Federal Register.
    
    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 Board procedures relating to the requirement to publish advance 
    notice of each open season.
    
    EO 12291
    
        I certify that this is not a major rule.
    
    Paperwork Reduction Act
    
        I certify that these regulations do not require additional 
    reporting under the criteria of the Paperwork Reduction Act of 1980.
    
    List of Subjects in 5 CFR Part 1600
    
        Employment benefit plans, Government employees, Retirement, 
    Pensions.
    
        Dated: August 10, 1994.
    Roger W. Mehle,
    Executive Director, Federal Retirement Thrift Investment Board.
    
        For the reasons set out in the preamble, part 1600 of chapter VI of 
    title 5 of the Code of Federal Regulations is amended as set forth 
    below.
    
    PART 1600--[AMENDED]
    
        1. The authority citation for 5 CFR part 1600 is revised to read as 
    follows:
    
        Authority: 5 U.S.C. 8351, 8432(b)(1)(A), 8474(b)(5) and (c)(1).
    
        2. Section 1600.2 is amended by revising paragraph (b) to read as 
    follows:
    
    
    Sec. 1600.2 Periods for making elections.
    
    * * * * *
        (b) Subsequent open season. An open season will begin on November 
    15 of each year and end on January 31 of the following year and another 
    open will begin on May 15 of each year and end on July 31 of the same 
    year. If the last day of an open season falls on a Saturday, Sunday, or 
    legal holiday, the open season shall be extended through the next 
    business day.
    * * * * *
    [FR Doc. 94-20035 Filed 8-15-94; 8:45 am]
    BILLING CODE 6760-01-M
    
    
    

Document Information

Published:
08/16/1994
Department:
Federal Retirement Thrift Investment Board
Entry Type:
Uncategorized Document
Action:
Proposed rule.
Document Number:
94-20035
Dates:
Written comments must be received on or before October 17, 1994.
Pages:
0-0 (1 pages)
Docket Numbers:
Federal Register: August 16, 1994
CFR: (1)
5 CFR 1600.2