5 U.S.C. § 8436 — Administrative provisions

Page 1159 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8437 amendment to be made at earliest practicable date as determined by Executive Director in regulations, see section 101(f) [title VI, § 659 [title II, § 207]] of Pub. L. 104–208, set out as a note under section 5545a of this title. EFFECTIVE DATE OF 1994 AMENDMENT Amendment by Pub. L. 103–226 effective Mar. 10, 1995, see section 9(j) of Pub. L. 103–226, set out as a note under section 8351 of this title. EFFECTIVE DATE OF 1992 AMENDMENT Amendment by Pub. L. 102–484 applicable with re- spect to separations occurring after Dec. 31, 1993, or such earlier date as Executive Director (appointed under section 8474 of this title) may by regulation pre- scribe, see section 4437(d) of Pub. L. 102–484, set out as a note under section 8351 of this title. EFFECTIVE DATE OF 1990 AMENDMENT Amendment by section 5(c) of Pub. L. 101–335 effective Apr. 1, 1987, see section 5(d) of Pub. L. 101–335, set out as a note under section 8433 of this title. Amendment by section 6(a)(3) of Pub. L. 101–335 effec- tive as of second election period described in section 8432(b) of this title beginning after July 17, 1990, or such earlier date as Executive Director may by regulation prescribe, and applicable with respect to separations occurring before, on, or after that effective date, see section 6(c) of Pub. L. 101–335, set out as a note under section 8351 of this title. § 8436. Administrative provisions (a) The Executive Director shall make or pro- vide for payments and transfers in accordance with an election of an employee or Member under section 8433 or 8434(b) of this title or, if applicable, in accordance with section 8435 of this title. (b) Any election, change of election, or modi- fication of a deferred annuity commencement date made under this subchapter shall be in writing and shall be filed with the Executive Di- rector in accordance with regulations prescribed by the Executive Director. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 550.) § 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 and all amounts deposited under section 8479(b) of this title, 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 ex- penses). (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; (2) to pay benefits or purchase annuity con- tracts under this subchapter; (3) to pay the administrative expenses of the Federal Retirement Thrift Investment Man- agement System prescribed in subchapter VII of this chapter; (4) to make distributions for the purposes of section 8440(b) of this title; (5) to make loans to employees and Members as authorized under section 8433(g) of this title; and (6) to purchase insurance as provided in sec- tion 8479(b)(2) of this title. (d) Administrative expenses incurred to carry out this subchapter and subchapter VII of this chapter shall be paid first out of any sums in the Thrift Savings Fund forfeited under section 8432(g) of this title and then out of net earnings in such Fund. (e)(1) Subject to subsection (d) and paragraphs (2) and (3), sums in the Thrift Savings Fund credited to the account of an employee, Member, former employee, or former Member may not be used for, or diverted to, purposes other than for the exclusive benefit of the employee, Member, former employee, or former Member or his bene- ficiaries under this subchapter. (2) Except as provided in paragraph (3), sums in the Thrift Savings Fund may not be assigned or alienated and are not subject to execution, levy, attachment, garnishment, or other legal process. For the purposes of this paragraph, a loan made from such Fund to an employee or Member shall not be considered to be an assign- ment or alienation. (3) Moneys due or payable from the Thrift Sav- ings Fund to any individual and, in the case of an individual who is an employee or Member (or former employee or Member), the balance in the account of the employee or Member (or former employee or Member) shall be subject to legal process for the enforcement of the individual’s legal obligations to provide child support or make alimony payments as provided in section 459 of the Social Security Act (42 U.S.C. 659), the enforcement of an order for restitution under section 3663A of title 18, forfeiture under section 8432(g)(5) of this title, an obligation of the Exec- utive Director to make a transfer under section 415(d)(3) of the Congressional Accountability Act of 1995 (2 U.S.C. 1415(d)(3)), or an obligation of the Executive Director to make a payment to another person under section 8467 of this title, and shall be subject to a Federal tax levy under section 6331 of the Internal Revenue Code of 1986. For the purposes of this paragraph, an amount contributed for the benefit of an individual under section 8432(c)(1) (including any earnings attributable thereto) shall not be considered part of the balance in such individual’s account unless such amount is nonforfeitable, as deter- mined under applicable provisions of section 8432(g). (f) The sums in the Thrift Savings Fund shall not be appropriated for any purpose other than the purposes specified in this section and may not be used for any other purpose. (g) All sums contributed to the Thrift Savings Fund by an employee or Member or by an em- ploying agency for the benefit of such employee or Member and all net earnings in such Fund at- tributable to investment of such sums are held in such Fund in trust for such employee or Mem- ber. (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 550; amended Pub. L. 100–238, title I, §§ 116, 117(a), Jan. 8, 1988, 101 Stat. 1751; Pub. L. 103–226, § 9(i)(16), Mar. 30, 1994, 108 Stat. 122; Pub.