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5 U.S.C. § 8439 — Accounting and information
Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) The Executive Director shall establish and maintain an account for each individual who makes contributions or for whom contributions are made under [section 8432 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432&num=0&edition=prelim) or who makes contributions to the Thrift Savings Fund.
(2) The balance in an individual’s account at any time is the excess of—
(A) the sum of—
(i) all contributions made to the Thrift Savings Fund by the individual;
(ii) all contributions made to such Fund for the benefit of the individual; and
(iii) the total amount of the allocations made to and reductions made in the account pursuant to paragraph (3), over
(B) the amounts paid out of the Thrift Savings Fund with respect to such individual under this subchapter.
(3) Pursuant to regulations prescribed by the Executive Director, the Executive Director shall allocate to each account an amount equal to a pro rata share of the net earnings and net losses from each investment of sums in the Thrift Savings Fund attributable to sums credited to such account, reduced by an appropriate share of the administrative expenses paid out of the net earnings under [section 8437(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8437/d&num=0&edition=prelim), as determined by the Executive Director.
**(b)**
(1) For the purposes of this subsection, the term “qualified public accountant” shall have the same meaning as provided in section 103(a)(3)(D) of the Employee Retirement Income Security Act of 1974 ([29 U.S.C. 1023(a)(3)(D)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1023/a/3/D&num=0&edition=prelim)).
(2) The Executive Director shall annually enga
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Source file: Laws/federal/codes/united-states-code/title-5/section-8439-accounting-and-information--dc4b8b1e31.md
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Source location: Title 5, Chapter 84, § 8439; chapter-084-federal-employees-retirement-system.md
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**(a)**
(1) The Executive Director shall establish and maintain an account for each individual who makes contributions or for whom contributions are made under [section 8432 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432&num=0&edition=prelim) or who makes contributions to the Thrift Savings Fund.
(2) The balance in an individual’s account at any time is the excess of—
(A) the sum of—
(i) all contributions made to the Thrift Savings Fund by the individual;
(ii) all contributions made to such Fund for the benefit of the individual; and
(iii) the total amount of the allocations made to and reductions made in the account pursuant to paragraph (3), over
(B) the amounts paid out of the Thrift Savings Fund with respect to such individual under this subchapter.
(3) Pursuant to regulations prescribed by the Executive Director, the Executive Director shall allocate to each account an amount equal to a pro rata share of the net earnings and net losses from each investment of sums in the Thrift Savings Fund attributable to sums credited to such account, reduced by an appropriate share of the administrative expenses paid out of the net earnings under [section 8437(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8437/d&num=0&edition=prelim), as determined by the Executive Director.
**(b)**
(1) For the purposes of this subsection, the term “qualified public accountant” shall have the same meaning as provided in section 103(a)(3)(D) of the Employee Retirement Income Security Act of 1974 ([29 U.S.C. 1023(a)(3)(D)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1023/a/3/D&num=0&edition=prelim)).
(2) The Executive Director shall annually engage, on behalf of all individuals for whom an account is maintained, an independent qualified public accountant, who shall conduct an examination of all accounts and other books and records maintained in the administration of this subchapter and subchapter VII as the public accountant considers necessary to enable the public accountant to make the determination required by paragraph (3). The examination shall be conducted in accordance with generally accepted auditing standards and shall involve such tests of the accounts, books, and records as the public accountant considers necessary.
(3) The public accountant conducting an examination under paragraph (2) shall determine whether the accounts, books, and records referred to in such paragraph have been maintained in conformity with generally accepted accounting principles applied on a basis consistent with the manner in which such principles were applied during the examination conducted under such paragraph during the preceding year. The public accountant shall transmit to the Board a report on his examination, including his determination under this paragraph.
(4) In making a determination under paragraph (3), a public accountant may rely on the correctness of any actuarial matter certified by an enrolled actuary if the public accountant states his reliance in the report transmitted to the Board under such paragraph.
**(c)**
(1) The Board shall prescribe regulations under which each individual for whom an account is maintained shall be furnished with—
(A) a periodic statement relating to the individual’s account; and
(B) a summary description of the investment options under [section 8438 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8438&num=0&edition=prelim) covering, and an evaluation of, each such option the 5-year period preceding the date as of which such evaluation is made.
(2) Information under this subsection shall be provided on a regular basis, and in a manner designed to facilitate informed decisionmaking with respect to elections under sections 8432 and 8438 of this title. Nothing in this paragraph shall be considered to limit the dissemination of information only to the times required under the preceding sentence.
**(d)**
(1) Each employee, Member, former employee, or former Member who elects to invest in any investment fund or option under this chapter, other than the Government Securities Investment Fund, shall sign an acknowledgement prescribed by the Executive Director which states that the employee, Member, former employee, or former Member understands that an investment in any such fund or option is made at the employee’s, Member’s, former employee’s, or former Member’s risk, that the employee, Member, former employee, or former Member is not protected by the Government against any loss on such investment, and that a return on such investment is not guaranteed by the Government.
(2) Prior to enrollment in the Thrift Savings Fund, or as soon as practicable thereafter, an individual who is automatically enrolled pursuant to section 8432(b)(2) shall receive the risk acknowledgment information described under paragraph (1).
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For the purposes of this section—
(1) the term “Common Stock Index Investment Fund” means the Common Stock Index Investment Fund established under subsection (b)(1)(C);
(2) the term “equity capital” means common and preferred stock, surplus, undivided profits, contingency reserves, and other capital reserves;
(3) the term “Fixed Income Investment Fund” means the Fixed Income Investment Fund established under subsection (b)(1)(B);
(4) the term “Government Securities Investment Fund” means the Government Securities Investment Fund established under subsection (b)(1)(A);
(5) the term “International Stock Index Investment Fund” means the International Stock Index Investment Fund established under subsection (b)(1)(E);
(6) the term “net worth” means capital, paid-in and contributed surplus, unassigned surplus, contingency reserves, group contingency reserves, and special reserves;
(7) the term “plan” means an employee benefit plan, as defined in section 3(3) of the Employee Retirement Income Security Act of 1974 ([29 U.S.C. 1002(3)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002/3&num=0&edition=prelim));
(8) the term “qualified professional asset manager” means—
(A) a bank, as defined in section 202(a)(2) of the Investment Advisers Act of 1940 ([15 U.S.C. 80b–2(a)(2)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80b–2/a/2&num=0&edition=prelim)) which—
(i) has the power to manage, acquire, or dispose of assets of a plan; and
(ii) has, as of the last day of its latest fiscal year ending before the date of a determination for the purpose of this clause, equity capital in excess of $1,000,000;
(B) a savings and loan association, the accounts of which are insured by the Federal Deposi
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) An employee or Member may contribute to the Thrift Savings Fund in any pay period, pursuant to an election under subsection (b), an amount not to exceed the maximum percentage of such employee’s or Member’s basic pay for such pay period allowable under paragraph (2). Contributions under this subsection pursuant to such an election shall, with respect to each pay period for which such election remains in effect, be made in accordance with a program of regular contributions provided in regulations prescribed by the Executive Director.
(2) The maximum percentage allowable under this paragraph shall be determined in accordance with the following table: In the case of a pay period beginning in fiscal year:The maximum percentageallowable is: 200111 200212 200313 200414 200515 2006 or thereafter100.
(3) Notwithstanding any limitation under this subsection, an eligible participant (as defined by section 414(v) of the Internal Revenue Code of 1986) may make such additional contributions to the Thrift Savings Fund as are permitted by such section 414(v) and regulations of the Executive Director consistent therewith.
**(b)**
(1)
(A)
(i) The Executive Director shall prescribe regulations under which employees and Members may make contributions under subsection (a), to modify the amount to be contributed under such subsection, or to terminate such contributions.
(ii) An election to make contributions under this paragraph—
(I) may be made at any time;
(II) shall take effect on the earliest date after the election that is administratively feasible; and
(III) shall remain in effect until modified or terminated.
(B) The amount to be contributed pursuant to an election under subparagraph (A) shall be the percentage of basic pay or amo
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For purposes of this section—
(1) the term “basic pay” means basic pay payable under [section 204 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section204&num=0&edition=prelim);
(2) the term “full TSP member” means a member described in subsection (e)(1);
(3) the term “member” has the meaning given the term in [section 211 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section211&num=0&edition=prelim); and
(4) the term “Secretary concerned” has the meaning given the term in [section 101 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section101&num=0&edition=prelim).
**(b)**
(1) Any member eligible to participate in the Thrift Savings Plan by virtue of [section 211(b) of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section211/b&num=0&edition=prelim) may contribute to the Thrift Savings Fund.
(2)
(A) Except as provided in subparagraph (B), an election to contribute to the Thrift Savings Fund under this section may be made as provided under section 8432(b).
(B)
(i) Notwithstanding subparagraph (A), any individual who is a member as of the effective date that applies with respect to such individual under section 663 of the National Defense Authorization Act for Fiscal Year 2000 may make the first such election during the 60-day period beginning on such effective date.
(ii) An election made under this subparagraph shall take effect on the first day of the first applicable pay period beginning after the close of the 60-day period referred to in clause (i).
**(c)** Except as otherwise provided in this section, the provisions of this subchapter and subchapter VII shall apply with respect to members making con
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) An employee or Member may elect to contribute to the Thrift Savings Fund established by [section 8437 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8437&num=0&edition=prelim).
(2) An election may be made under paragraph (1) as provided under section 8432(b) for individuals who are subject to chapter 84 of this title.
**(b)**
(1) Except as otherwise provided in this subsection, the provisions of subchapters III and VII of chapter 84 of this title shall apply with respect to employees and Members making contributions to the Thrift Savings Fund under subsection (a) of this section.
(2)
(A) An employee or Member may contribute to the Thrift Savings Fund in any pay period any amount not exceeding the maximum percentage of such employee’s or Member’s basic pay for such pay period allowable under subparagraph (B).
(B) The maximum percentage allowable under this subparagraph shall be determined in accordance with the following table: In the case of a pay period beginning in fiscal year:The maximum percentageallowable is: 20016 20027 20038 20049 200510 2006 or thereafter100.
(C) Notwithstanding any limitation under this paragraph, an eligible participant (as defined by section 414(v) of the Internal Revenue Code of 1986) may make such additional contributions to the Thrift Savings Fund as are permitted by such section 414(v) and regulations of the Executive Director consistent therewith.
(3) No contributions may be made by an employing agency for the benefit of an employee or Member under [section 8432(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432/c&num=0&edition=prelim).
(4) [Section 8433(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:
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Federal law — U.S. Code and appendices · legal_authorities
The Executive departments are:
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this subchapter—
(1) the term “beneficiary” means an individual (other than a participant) entitled to payment from the Thrift Savings Fund under subchapter III of this chapter;
(2) the term “Council” means the Employee Thrift Advisory Council established under [section 8473 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8473&num=0&edition=prelim);
(3) the term “participant” means an individual for whom an account has been established under [section 8439 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8439&num=0&edition=prelim);
(4) the term “person” means an individual, partnership, joint venture, corporation, mutual company, joint-stock company, trust, estate, unincorporated organization, association, or labor organization; and
(5) the term “Thrift Savings Fund” means the Thrift Savings Fund established under [section 8437 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8437&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Income and other financial resources as substantial limiting factors in obtaining more nutritious diet; recipients under Social Security Act** Participation in the supplemental nutrition assistance program shall be limited to those households whose incomes and other financial resources, held singly or in joint ownership, are determined to be a substantial limiting factor in permitting them to obtain a more nutritious diet. Notwithstanding any other provisions of this chapter except subsections (b), (d)(2), (g), and (r) of [section 2015 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2015&num=0&edition=prelim) and [section 2012(m)(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2012/m/4&num=0&edition=prelim), households in which each member receives benefits under a State program funded under part A of title IV of the Social Security Act ([42 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section601&num=0&edition=prelim) et seq.), supplemental security income benefits under title XVI of the Social Security Act [[42 U.S.C. 1381](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1381&num=0&edition=prelim) et seq.], or aid to the aged, blind, or disabled under title I, X, XIV, or XVI of the Social Security Act [[42 U.S.C. 301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section301&num=0&edition=prelim) et seq., 1201 et seq., 1351 et seq., or 1381 et seq.], shall be eligible to participate in the supplemental nutrition assistance program. Except for sections 2015, 2025(e)(1), and [section 2012(m)(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2012/m/4&num
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Publication and filing**
(1)
(A) An annual report shall be published with respect to every employee benefit plan to which this part applies. Such report shall be filed with the Secretary in accordance with [section 1024(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1024/a&num=0&edition=prelim), and shall be made available and furnished to participants in accordance with [section 1024(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1024/b&num=0&edition=prelim).
(B) The annual report shall include the information described in subsections (b) and (c) and where applicable subsections (d), (e), (f), and (g) and shall also include—
(i) a financial statement and opinion, as required by paragraph (3) of this subsection, and
(ii) an actuarial statement and opinion, as required by paragraph (4) of this subsection.
(2) If some or all of the information necessary to enable the administrator to comply with the requirements of this subchapter is maintained by—
(A) an insurance carrier or other organization which provides some or all of the benefits under the plan, or holds assets of the plan in a separate account,
(B) a bank or similar institution which holds some or all of the assets of the plan in a common or collective trust or a separate trust, or custodial account, or
(C) a plan sponsor as defined in [section 1002(16)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002/16/B&num=0&edition=prelim),
such carrier, organization, bank, institution, or plan sponsor shall transmit and certify the accuracy of such information to the administrator within 120 days after the end of the plan year (or such other date as
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Federal law — U.S. Code and appendices · legal_authorities
Page 387
TITLE 29—LABOR
§ 1023
ployee benefit plan shall be prepared on forms pre-
scribed by the Secretary, and shall be filed with the
Secretary as required by section 1024(a)(1) of this title.
Any material modification in the terms of the plan and
any change in the information described in subsection
(b)
shall
be
filed
in
accordance
with
section
1024(a)(1)(D) of this title.’’
Subsec. (b). Pub. L. 105–34, § 1503(b)(2)(A), substituted
‘‘The summary plan description shall contain’’ for
‘‘The plan description and summary plan description
shall contain’’.
1996—Subsec. (b). Pub. L. 104–204 made technical
amendment to references in original act which appear
in text as references to section 1191b of this title.
Pub. L. 104–191 inserted ‘‘in the case of a group health
plan (as defined in section 1191b(a)(1) of this title),
whether a health insurance issuer (as defined in section
1191b(b)(2) of this title) is responsible for the financing
or administration (including payment of claims) of the
plan and (if so) the name and address of such issuer;’’
after ‘‘type of administration of the plan;’’ and ‘‘includ-
ing the office at the Department of Labor through
which participants and beneficiaries may seek assist-
ance or information regarding their rights under this
chapter and the Health Insurance Portability and Ac-
countability Act of 1996 with respect to health benefits
that are offered through a group health plan (as defined
in section 1191b(a)(1) of this title)’’ after ‘‘presenting
claims for benefits under the plan’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2009 AMENDMENT
Amendment by Pub. L. 111–3 effective Apr. 1, 2009, and
applicable to child health assistance and medical as-
sistance provided on or after that date, with
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1023
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Federal law — U.S. Code and appendices · legal_authorities
Page 1164
TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES
§ 8439
rector (as that term is defined under section 8401(13) of
title 5, United States Code) shall develop and issue
guidance implementing the requirements of this Act
[see section 1 of Pub. L. 113–255, set out as a Short Title
of 2014 Amendment note under section 101 of this
title].’’
[Guidance issued in the form of a final rule published
Aug. 28, 2015, effective Sept. 5, 2015, see 80 F.R. 52173.]
REMOVAL OF INVESTMENT RESTRICTIONS
Pub. L. 101–335, § 3(b)(4), July 17, 1990, 104 Stat. 320,
provided that: ‘‘Any other provision of law, in effect on
the date of enactment of this Act [July 17, 1990], which
provides that any amounts contributed to the Thrift
Savings Fund, or earnings thereon, may be invested or
reinvested only in the Government Securities Invest-
ment Fund established under section 8438(b)(1)(A) of
title 5, United States Code, shall cease to be effective.’’
§ 8439. Accounting and information
(a)(1) The Executive Director shall establish
and maintain an account for each individual
who makes contributions or for whom contribu-
tions are made under section 8432 of this title or
who makes contributions to the Thrift Savings
Fund.
(2) The balance in an individual’s account at
any time is the excess of—
(A) the sum of—
(i) all contributions made to the Thrift
Savings Fund by the individual;
(ii) all contributions made to such Fund
for the benefit of the individual; and
(iii) the total amount of the allocations
made to and reductions made in the account
pursuant to paragraph (3), over
(B) the amounts paid out of the Thrift Sav-
ings Fund with respect to such individual
under this subchapter.
(3) Pursuant to regulations prescribed by the
Executive Director, the Executive Director s
Source: Supplied 2024 U.S. Code historical extraction · 5 U.S.C. § 8439
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