5 U.S.C. § 8471 — Definitions

Page 1191 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8471 see section 529 [title III, § 305] of Pub. L. 101–509, set out as an Effective Date of 1990 Amendment note under sec- tion 5301 of this title. EFFECTIVE DATE OF 1988 AMENDMENT Pub. L. 100–238, title I, § 134(d), Jan. 8, 1988, 101 Stat. 1765, provided that: ‘‘(1) GENERALLY.—The amendments made by this sec- tion [amending this section and provisions set out as notes under section 8331 of this title] shall take effect on the date of the enactment of this Act [Jan. 8, 1988], and as provided in paragraph (2), shall apply with re- spect to any individual who becomes a reemployed an- nuitant on or after such date. ‘‘(2) EXCEPTION.—The amendment made by subsection (b) [amending provisions set out as a note under section 8331 of this title] shall apply with respect to any elec- tion made by a reemployed annuitant on or after the date of the enactment of this Act [Jan. 8, 1988].’’ CONSTRUCTION OF 2009 AMENDMENT Nothing in amendment by section 1122 of Pub. L. 111–84 to be construed to authorize the waiver of the hiring preferences under chapter 33 of this title in se- lecting annuitants to employ in an appointive or elec- tive position, see section 1122(c) of Pub. L. 111–84, set out as a note under section 8344 of this title. ANNUAL REPORT TO CONGRESS Each agency in legislative branch to submit to Speaker of House of Representatives and Committee on Rules and Administration of Senate, for each calendar year, a written report on how authority made available as result of amendment by Pub. L. 102–190 was used by such agency during the period covered by such report, see section 655(d) of Pub. L. 102–190, set out as a note under section 8344 of this title. § 8469. Withholding of State income taxes (a) The Office shall, in accordance with this section, enter into an agreement with any State within 120 days of a request for agreement from the proper State official. The agreement shall provide that the Office shall withhold State in- come tax in the case of the monthly annuity of any annuitant who voluntarily requests, in writ- ing, such withholding. The amounts withheld during any calendar quarter shall be held in the Fund and disbursed to the States during the month following that calendar quarter. (b) An annuitant may have in effect at any time only one request for withholding under this section, and an annuitant may not have more than two such requests in effect during any one calendar year. (c) Subject to subsection (b), an annuitant may change the State designated by that annu- itant for purposes of having withholdings made, and may request that the withholdings be remit- ted in accordance with such change. An annu- itant also may revoke any request of that annu- itant for withholding. Any change in the State designated or revocation is effective on the first day of the month after the month in which the request or the revocation is processed by the Of- fice, but in no event later than on the first day of the second month beginning after the day on which such request or revocation is received by the Office. (d) This section does not give the consent of the United States to the application of a statute which imposes more burdensome requirements on the United States than on employers gen- erally, or which subjects the United States or any annuitant to a penalty or liability because of this section. The Office may not accept pay from a State for services performed in with- holding State income taxes from annuities. Any amount erroneously withheld from an annuity and paid to a State by the Office shall be repaid by the State in accordance with regulations issued by the Office. (e) For the purpose of this section— (1) the term ‘‘State’’ means a State, the Dis- trict of Columbia, or any territory or posses- sion of the United States; and (2) the term ‘‘annuitant’’ includes a survivor who is receiving an annuity from the Fund. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 576.) § 8470. Exemption from legal process; recovery of payments (a) An amount payable under subchapter II, IV, or V of this chapter is not assignable, either in law or equity, except under the provisions of section 8465 or 8467, or subject to execution, levy, attachment, garnishment or other legal process, except as otherwise may be provided by Federal laws. (b) Recovery of payments under subchapter II, IV, or V of this chapter may not be made from an individual when, in the judgment of the Of- fice, the individual is without fault and recovery would be against equity and good conscience. Withholding or recovery of money paid under subchapter II, IV, or V of this chapter on ac- count of a certification or payment made by a former employee of the United States in the dis- charge of his official duties may be made only if the head of the agency on behalf of which the certification or payment was made certifies to the Office that the certification or payment in- volved fraud on the part of the former employee. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 577.) SUBCHAPTER VII—FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM § 8471. Definitions For the purposes of this subchapter— (1) the term ‘‘beneficiary’’ means an indi- vidual (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 sec- tion 8473 of this title; (3) the term ‘‘participant’’ means an indi- vidual for whom an account has been estab- lished under section 8439 of this title; (4) the term ‘‘person’’ means an individual, partnership, joint venture, corporation, mu- tual company, joint-stock company, trust, es- tate, unincorporated organization, associa- tion, or labor organization; and (5) the term ‘‘Thrift Savings Fund’’ means the Thrift Savings Fund established under sec- tion 8437 of this title. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 577.) Page 1192 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8472 Statutory Notes and Related Subsidiaries EFFECTIVE DATE Subchapter VII effective June 6, 1986, see section 702(b)(1) of Pub. L. 99–335, set out as a note under sec- tion 8401 of this title. § 8472. Federal Retirement Thrift Investment Board (a) There is established in the Executive branch of the Government a Federal Retirement Thrift Investment Board. (b) The Board shall be composed of— (1) 3 members appointed by the President, of whom 1 shall be designated by the President as Chairman; and (2) 2 members appointed by the President, of whom— (A) 1 shall be appointed by the President after taking into consideration the rec- ommendation made by the Speaker of the House of Representatives in consultation with the minority leader of the House of Representatives; and (B) 1 shall be appointed by the President after taking into consideration the rec- ommendation made by the majority leader of the Senate in consultation with the mi- nority leader of the Senate. (c) Except as provided in section 311 of the Federal Employees’ Retirement System Act of 1986, appointments under subsection (a) shall be made by and with the advice and consent of the Senate. (d) Members of the Board shall have substan- tial experience, training, and expertise in the management of financial investments and pen- sion benefit plans. (e)(1) Except as provided in section 311 of the Federal Employees’ Retirement System Act of 1986, a member of the Board shall be appointed for a term of 4 years, except that of the mem- bers first appointed (other than the members ap- pointed under such section)— (A) the Chairman shall be appointed for a term of 4 years; (B) the members appointed under subsection (b)(2) shall be appointed for terms of 3 years; and (C) the remaining members shall be ap- pointed for terms of 2 years. (2)(A) A vacancy on the Board shall be filled in the manner in which the original appointment was made and shall be subject to any conditions which applied with respect to the original ap- pointment. (B) An individual chosen to fill a vacancy shall be appointed for the unexpired term of the mem- ber replaced. (3) The term of any member shall not expire before the date on which the member’s successor takes office. (f) The Board shall— (1) establish policies for— (A) the investment and management of the Thrift Savings Fund; and (B) the administration of subchapter III of this chapter; (2) review the performance of investments made for the Thrift Savings Fund; and (3) review and approve the budget of the Board. (g)(1) The Board may— (A) adopt, alter, and use a seal; (B) except as provided in paragraph (2), di- rect the Executive Director to take such ac- tion as the Board considers appropriate to carry out the provisions of this subchapter and subchapter III of this chapter and the policies of the Board; (C) upon the concurring votes of four mem- bers, remove the Executive Director from of- fice for good cause shown; and (D) take such other actions as may be nec- essary to carry out the functions of the Board. (2) Except in the case of investments under section 8438(c)(2)(B), the Board may not direct the Executive Director to invest or to cause to be invested any sums in the Thrift Savings Fund in a specific asset or to dispose of or cause to be disposed of any specific asset of such Fund. (h) The members of the Board shall discharge their responsibilities solely in the interest of participants and beneficiaries under this sub- chapter and subchapter III of this chapter. (i) The Board shall prepare and submit to the President, and, at the same time, to the appro- priate committees of Congress, an annual budg- et of the expenses and other items relating to the Board which shall be included as a separate item in the budget required to be transmitted to the Congress under section 1105 of title 31. (j) The Board may submit to the President, and, at the same time, shall submit to each House of the Congress, any legislative rec- ommendations of the Board relating to any of its functions under this title or any other provi- sion of law. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 578; amended Pub. L. 99–509, title VI, § 6001(e), Oct. 21, 1986, 100 Stat. 1931; Pub. L. 113–255, § 2(c), Dec. 18, 2014, 128 Stat. 2920.) Editorial Notes REFERENCES IN TEXT Section 311 of the Federal Employees’ Retirement System Act of 1986 [Pub. L. 99–335], referred to in sub- secs. (c) and (e)(1), is set out as a note below. AMENDMENTS 2014—Subsec. (g)(2). Pub. L. 113–255 substituted ‘‘under section 8438(c)(2)(B)’’ for ‘‘required by section 8438 of this title to be invested in securities of the Gov- ernment’’. 1986—Subsecs. (i), (j). Pub. L. 99–509 added subsecs. (i) and (j). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99–509 effective Jan. 1, 1987, see section 6001(f) of Pub. L. 99–509, set out as a note under section 8432 of this title. INITIAL APPOINTMENTS TO FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Pub. L. 99–335, title III, § 311, June 6, 1986, 100 Stat. 608, provided that: ‘‘(a) INITIAL APPOINTMENT OF MEMBERS.—Section 8472(c) of title 5, United States Code (as added by sec- tion 101(a) of this Act) shall not apply to the members