5 U.S.C. § 8432d — Qualified Roth contribution program

Page 1151 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8433 considered to have been paid at the rate which would have been payable over such period had the person remained continuously employed in the position that the person last held before transferring to the international organization. (e) For purposes of section 8432(g), a covered person shall be credited with a period of civilian service equal to the period beginning on the date of transfer of the person (as described in sub- section (a)(1)) and ending on the day before the date of reemployment of the person (as de- scribed in subsection (a)(3)). (f) The Executive Director shall prescribe reg- ulations to carry out this section. (Added Pub. L. 106–113, div. B, § 1000(a)(7) [div. A, title III, § 334(a)], Nov. 29, 1999, 113 Stat. 1536, 1501A–440.) Editorial Notes REFERENCES IN TEXT The Foreign Service Act of 1980, referred to in subsec. (a)(1), (3), is Pub. L. 96–465, Oct. 17, 1980, 94 Stat. 2071. Subchapters I and II of chapter 8 of the Act probably mean subchapters I and II of chapter 8 of title I of the Act which are classified generally to parts I (§ 4041 et seq.) and II (§ 4071 et seq.), respectively, of subchapter VIII of chapter 52 of Title 22, Foreign Relations and Intercourse. For complete classification of this Act to the Code, see Short Title note set out under section 3901 of Title 22 and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 106–113, div. B, § 1000(a)(7) [div. A, title III, § 334(c)], Nov. 29, 1999, 113 Stat. 1536, 1501A–441, provided that: ‘‘The amendment made by subsection (a) [enact- ing this section] shall apply to persons reemployed on or after the date of enactment of this Act [Nov. 29, 1999].’’ § 8432d. Qualified Roth contribution program (a) DEFINITIONS.—For purposes of this sec- tion— (1) the term ‘‘qualified Roth contribution program’’ means a program described in para- graph (1) of section 402A(b) of the Internal Revenue Code of 1986 which meets the require- ments of paragraph (2) of such section; and (2) the terms ‘‘designated Roth contribu- tion’’ and ‘‘elective deferral’’ have the mean- ings given such terms in section 402A of the Internal Revenue Code of 1986. (b) AUTHORITY TO ESTABLISH.—The Executive Director shall by regulation provide for the in- clusion in the Thrift Savings Plan of a qualified Roth contribution program, under such terms and conditions as the Board may prescribe. (c) REQUIRED PROVISIONS.—The regulations under subsection (b) shall include— (1) provisions under which an election to make designated Roth contributions may be made— (A) by any individual who is eligible to make contributions under section 8351, 8432(a), 8440a, 8440b, 8440c, 8440d, or 8440e; and (B) by any individual, not described in sub- paragraph (A), who is otherwise eligible to make elective deferrals under the Thrift Savings Plan; (2) any provisions which may, as a result of enactment of this section, be necessary in order to clarify the meaning of any reference to an ‘‘account’’ made in section 8432(f), 8433, 8434(d), 8435, 8437, or any other provision of law; and (3) any other provisions which may be nec- essary to carry out this section. (Added Pub. L. 111–31, div. B, title I, § 103(a), June 22, 2009, 123 Stat. 1853.) Editorial Notes REFERENCES IN TEXT Section 402A of the Internal Revenue Code of 1986, re- ferred to in subsec. (a), is classified to section 402A of Title 26, Internal Revenue Code. § 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, if any) as provided in this section. (b) Subject to section 8435 of this title, any employee or Member who separates from Gov- ernment 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 Execu- tive Director may prescribe by regulation. (c)(1) In addition to the right provided under subsection (b) to withdraw the balance of the ac- count, 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 accord- ance 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 made. (4) A transfer may not be made for an em- ployee, Member, former employee, or former Member under paragraph (2) until the Executive Director receives from that individual the infor- mation required by the Executive Director spe- cifically to identify the eligible retirement plan or plans to which the transfer is to be made. (5) Withdrawals under this subsection shall be subject to such other limitations or conditions as the Executive Director may prescribe by reg- ulation. (d)(1) Subject to paragraph (2) and subsections (a) and (c) of section 8435 of this title, an em- ployee or Member may change an election pre-