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5 U.S.C. § 8351 — Participation in the Thrift Savings Plan

Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8351 — Participation in the Thrift Savings Plan

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Source file: Laws/federal/codes/united-states-code/title-5/section-8351-participation-in-the-thrift-savings-plan--04df99d936.md
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Source location: Title 5, Chapter 83, § 8351; chapter-083-retirement.md

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**(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:USC-prelim-title5-section8433/b&num=0&edition=prelim) applies to any employee or Member who elects to make contributions to the Thrift Savings Fund under subsection (a) of this section and separates from Government employment. (5) (A) The provisions of [section 8435 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8435&num=0&edition=prelim) that require a waiver or consent by the spouse of an employee or Member (or former employee or Member) shall not apply with respect to sums in the Thrift Savings Fund contributed by the employee or Member (or former employee or Member) and earnings in the fund attributable to such sums. (B) An election or change of election authorized by subchapter III of chapter 84 of this title shall be effective in the case of a married employee or Member, and a loan or withdrawal may be approved under section 8433(g) and (h) of this title in such case, only after the Executive Director notifies the employee’s or Member’s spouse that the election or change of election has been made or that the Executive Director has received an application for such loan or withdrawal, as the case may be. (C) Subparagraph (B) may be waived with respect to a spouse if the employee or Member establishes to the satisfaction of the Executive Director of the Federal Retirement Thrift Investment Board that the whereabouts of such spouse cannot be determined. (D) Except with respect to the making of loans or withdrawals under section 8433(g) or (h), none of the provisions of this paragraph requiring notification to a spouse or former spouse of an employee, Member, former employee, or former Member shall apply in any case in which the nonforfeitable account balance of the employee, Member, former employee, or former Member is $3,500 or less. (6) Notwithstanding paragraph (4), if an employee or Member separates from Government employment and such employee’s or Member’s nonforfeitable account balance is less than an amount that the Executive Director prescribes by regulation, the Executive Director shall pay the nonforfeitable account balance to the participant in a single payment. (7) For the purpose of this section, the term “nonforfeitable account balance” has the same meaning as under section 8401(32). (8) In applying section 8432b to an employee contributing to the Thrift Savings Fund after being restored to or reemployed in a position subject to this subchapter, pursuant to chapter 43 of title 38— (A) any reference in such section to contributions under section 8432(a) shall be considered a reference to employee contributions under this section, except that the reference in section 8432b(b)(2)(B) to employee contributions under section 8432(a) shall be considered a reference to employee contributions under this subchapter and section 8440e; (B) the contribution rate under section 8432b(b)(2)(A) shall be the maximum percentage allowable under subsection (b)(2) of this section; and (C) subsections (c) and (d) of section 8432b shall be disregarded. (9) For the purpose of this section, separation from Government employment includes a transfer described in section 8431. **(c)** A member of the Foreign Service described in section 103(6) of the Foreign Service Act of 1980 shall be ineligible to make any election under this section. **(d)** (1) A foreign national employee of the Central Intelligence Agency whose services are performed outside the United States shall be ineligible to make an election under this section. (2) (A) Only those employees of the Central Intelligence Agency participating in the pilot project required by section 402(b) of the Intelligence Authorization Act for Fiscal Year 2003 (Public Law 107–306; [50 U.S.C. 403–4](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section403–4&num=0&edition=prelim) note) 11 See References in Text note below. and making contributions to the Thrift Savings Fund out of basic pay may also contribute (by direct transfer to the Fund) any part of bonus pay received by the employee as part of the pilot project. (B) Contributions under this paragraph are subject to [section 8432(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432/d&num=0&edition=prelim). **(e)** The Executive Director of the Federal Retirement Thrift Investment Board may prescribe regulations to carry out this section.

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8437 — Thrift Savings Fund

**(a)** There is established in the Treasury of the United States a Thrift Savings Fund. **(b)** The Thrift Savings Fund consists of the sum of all amounts contributed under [section 8432 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432&num=0&edition=prelim) and all amounts deposited under [section 8479(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8479/b&num=0&edition=prelim), increased by the total net earnings from investments of sums in the Thrift Savings Fund or reduced by the total net losses from investments of the Thrift Savings Fund, and reduced by the total amount of payments made from the Thrift Savings Fund (including payments for administrative expenses). **(c)** The sums in the Thrift Savings Fund are appropriated and shall remain available without fiscal year limitation— (1) to invest under [section 8438 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8438&num=0&edition=prelim); (2) to pay benefits or purchase annuity contracts under this subchapter; (3) to pay the administrative expenses of the Federal Retirement Thrift Investment Management System prescribed in subchapter VII of this chapter; (4) to make distributions for the purposes of [section 8440(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8440/b&num=0&edition=prelim); (5) to make loans to employees and Members as authorized under [section 8433(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8433/g&num=0&edition=prelim); and (6) to purchase insurance as provided in [section 8479(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5

Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 8437

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8474 — Executive Director

**(a)** (1) The Board shall appoint, without regard to the provisions of law governing appointments in the competitive service, an Executive Director by action agreed to by a majority of the members of the Board. (2) The Executive Director shall have substantial experience, training, and expertise in the management of financial investments and pension benefit plans. **(b)** The Executive Director shall— (1) carry out the policies established by the Board; (2) invest and manage the Thrift Savings Fund in accordance with the investment policies and other policies established by the Board; (3) purchase annuity contracts and provide for the payment of other benefits under subchapter III of this chapter; (4) administer the provisions of this subchapter and subchapter III of this chapter; (5) prescribe such regulations (other than regulations relating to fiduciary responsibilities) as may be necessary for the administration of this subchapter and subchapter III of this chapter; and (6) meet from time to time with the Council upon request of the Council. **(c)** The Executive Director may— (1) prescribe such regulations as may be necessary to carry out the responsibilities of the Executive Director under this section, other than regulations relating to fiduciary responsibilities; (2) appoint such personnel as may be necessary to carry out the provisions of this subchapter and subchapter III of this chapter; (3) subject to approval by the Board, procure the services of experts and consultants under [section 3109 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section3109&num=0&edition=prelim); (4) secure directly from an Executive agency, the United States Postal Service, or the Postal Regulatory Commission any information necess

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8337 — Disability retirement

**(a)** An employee who completes 5 years of civilian service and has become disabled shall be retired on the employee’s own application or on application by the employee’s agency. Any employee shall be considered to be disabled only if the employee is found by the Office of Personnel Management to be unable, because of disease or injury, to render useful and efficient service in the employee’s position and is not qualified for reassignment, under procedures prescribed by the Office, to a vacant position which is in the agency at the same grade or level and in which the employee would be able to render useful and efficient service. For the purpose of the preceding sentence, an employee of the United States Postal Service shall be considered not qualified for a reassignment described in that sentence if the reassignment is to a position in a different craft or is inconsistent with the terms of a collective bargaining agreement covering the employee. A judge of the United States Court of Appeals for the Armed Forces who completes 5 years of civilian service and who is found by the Office to be disabled for useful and efficient service as a judge of such court or who is removed for mental or physical disability under [section 942(c) of title 10](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section942/c&num=0&edition=prelim) shall be retired on the judge’s own application or upon such removal. A Member who completes 5 years of Member service and is found by the Office to be disabled for useful and efficient service as a Member because of disease or injury shall be retired on the Member’s own application. An annuity authorized by this section is computed under [section 8339(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim

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5 U.S.C. § 8401 — Definitions

For the purpose of this chapter— (1) the term “account” means an account established and maintained under [section 8439(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8439/a&num=0&edition=prelim); (2) the term “annuitant” means a former employee or Member who, on the basis of that individual’s service, meets all requirements for title to an annuity under subchapter II or V of this chapter and files claim therefor; (3) the term “average pay” means the largest annual rate resulting from averaging an employee’s or Member’s rates of basic pay in effect over any 3 consecutive years of service or, in the case of an annuity under this chapter based on service of less than 3 years, over the total service, with each rate weighted by the period it was in effect; (4) the term “basic pay” has the meaning given such term by section 8331(3); (5) the term “Board” means the Federal Retirement Thrift Investment Board established by [section 8472(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8472/a&num=0&edition=prelim); (6) the term “Civil Service Retirement and Disability Fund” or “Fund” means the Civil Service Retirement and Disability Fund under section 8348; (7) the term “court” means any court of any State, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, or the Virgin Islands, and any Indian court; (8) the term “Director” means the Director of the Office of Personnel Management; (9) the term “dynamic assumptions” means economic assumptions that are used in determining actuarial costs and liabilities of a retirement system and in anticipating the effects of long-term future— (A) investment yields; (B) increases in rates of basic p

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8435 — Protections for spouses and former spouses

**(a)** (1) (A) A married employee or Member (or former employee or Member) may withdraw all or part of a Thrift Savings Fund account under subsection (b)(2), (3), or (4) of [section 8433 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8433&num=0&edition=prelim) or change a withdrawal election only if the employee or Member (or former employee or Member) satisfies the requirements of subparagraph (B). A married employee or Member (or former employee or Member) may make a withdrawal from a Thrift Savings Fund account under subsection (c)(1) of [section 8433 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8433&num=0&edition=prelim) only if the employee or Member (or former employee or Member) satisfies the requirements of subparagraph (B). (B) An employee or Member (or former employee or Member) may make an election or change referred to in subparagraph (A) if the employee or Member and the employee’s or Member’s spouse (or the former employee or Member and the former employee’s or Member’s spouse) jointly waive, by written election, any right which the spouse may have to a survivor annuity with respect to such employee or Member (or former employee or Member) under [section 8434 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8434&num=0&edition=prelim) or subsection (b). (2) Paragraph (1) shall not apply to an election or change of election by an employee or Member (or former employee or Member) who establishes to the satisfaction of the Executive Director (at the time of the election or change and in accordance with regulations prescribed by the Executive Director)— (A) that the spouse’s whereabouts cannot be determined; or (B) that

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50 U.S.C. § 403–4 — Transferred

### Statutory Notes #### Codification Section 403–3h, comprising section 103H of the National Security Act of 1947, act July 26, 1947, ch. 343, was editorially reclassified as [section 3033 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section3033&num=0&edition=prelim).

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5 U.S.C. § 8431 — Certain transfers to be treated as a separation

**(a)** For purposes of this subchapter, separation from Government employment includes a transfer from a position that is subject to one of the retirement systems described in subsection (b) to a position that is not subject to any of them. **(b)** The retirement systems described in this subsection are— (1) the retirement system under this chapter; (2) the retirement system under subchapter III of chapter 83; and (3) any other retirement system under which individuals may contribute to the Thrift Savings Fund through withholdings from pay.

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5 U.S.C. § 8438 — Investment of Thrift Savings Fund

**(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

5 U.S.C. § 8432b — Contributions of persons who perform military service

**(a)** This section applies to any employee who— (1) separates or enters leave-without-pay status in order to perform military service; and (2) is subsequently restored to or reemployed in a position which is subject to this chapter, pursuant to chapter 43 of title 38. **(b)** (1) Each employee to whom this section applies may contribute to the Thrift Savings Fund, in accordance with this subsection, an amount not to exceed the amount described in paragraph (2). (2) The maximum amount which an employee may contribute under this subsection is equal to— (A) the contributions under section 8432(a) which would have been made, over the period beginning on date of separation or commencement of leave-without-pay status (as applicable) and ending on the day before the date of restoration or reemployment (as applicable); reduced by (B) any contributions under section 8432(a) or 8440e actually made by such employee over the period described in subparagraph (A). (3) Contributions under this subsection— (A) shall be made at the same time and in the same manner as would any contributions under section 8432(a); (B) shall be made over the period of time specified by the employee under paragraph (4)(B); and (C) shall be in addition to any contributions then actually being made under section 8432(a). (4) The Executive Director shall prescribe the time, form, and manner in which an employee may specify— (A) the total amount such employee wishes to contribute under this subsection with respect to any particular period referred to in paragraph (2)(B); and (B) the period of time over which the employee wishes to make contributions under this subsection. The employing agency may place a maximum limit on the period of time referred to in subparagraph (B), which

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8433 — Benefits and election of benefits

**(a)** An employee or Member who separates from Government employment is entitled to the amount of the balance in the employee’s or Member’s account (except for the portion of such amount forfeited under [section 8432(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8432/g&num=0&edition=prelim), if any) as provided in this section. **(b)** Subject to [section 8435 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8435&num=0&edition=prelim), any employee or Member who separates from Government employment is entitled and may elect to withdraw from the Thrift Savings Fund the balance of the employee’s or Member’s account as— (1) an annuity; (2) a single payment; (3) 2 or more substantially equal payments to be made not less frequently than annually; or (4) any combination of payments as provided under paragraphs (1) through (3) as the Executive Director may prescribe by regulation. **(c)** (1) In addition to the right provided under subsection (b) to withdraw the balance of the account, an employee or Member who separates from Government service may make one or more withdrawals of any amount in the same manner as a single payment is made in accordance with subsection (b)(2) from the employee’s or Member’s account. (2) An employee or Member may request that the amount withdrawn from the Thrift Savings Fund in accordance with subsection (b)(2) be transferred to an eligible retirement plan. (3) The Executive Director shall make each transfer elected under paragraph (2) directly to an eligible retirement plan or plans (as defined in section 402(c)(8) of the Internal Revenue Code of 1986) identified by the employee, Member, former employee, or former Member for whom the transfer is mad

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