CFR Subpart B

CFR Subpart B
in effect

5 C.F.R. § 1690.11 Plan year.

The Thrift Savings Plan's plan year is established on a calendar-year basis for all purposes, except where another applicable provision of law requires that a fiscal year or other basis be used. As used in this section, the term “calendar-year basis” means a twelve-month period beginning on January 1 and ending on December 31 of the same year.

5 C.F.R. § 1690.12 Power of attorney.

(a) A participant or beneficiary can appoint an agent to conduct business with the TSP on his or her behalf by using a power of attorney (POA). The agent is called an attorney-in-fact. The TSP record keeper must approve a POA before the agent can conduct business with the TSP; however, the TSP record keeper will accept a document that was signed by the agent before the TSP record keeper approved the POA. The TSP record keeper will approve a POA if it meets the following conditions: (1) The POA must give the agent either general or specific powers, as explained in paragraphs (b) and (c) of this section; (2) The POA must be signed by the participant; (3) The POA must provide the names and addresses of the participant and the agent; (4) The POA must meet the state law requirements of the participant's state of domicile as determined by the address on file with the TSP record keeper; (5) The POA must be a complete document; and (6) The POA must be submitted to the TSP record keeper for approval. (b) A general POA gives an agent unlimited authority to conduct business with the TSP, including the authority to sign any TSP-related document. Additional information regarding general powers of attorney can be accessed at https://www.tsp.gov. (c) A specific power of attorney gives an agent the authority to conduct specific TSP transactions. A specific POA must expressly describe the authority it grants. Additional information regarding specifical powers of attorney, as well as a sample form, can be accessed at https://www.tsp.gov.

5 C.F.R. § 1690.13 Guardianship and conservatorship orders.

(a) A court order can authorize an agent to conduct business with the TSP on behalf of an incapacitated participant or beneficiary. The agent is called a guardian or conservator and the incapacitated person is called a ward. The TSP record keeper must approve a court order before an agent can conduct business with the TSP; however, the TSP record keeper will accept a document that was signed by the agent before the TSP record keeper approved the court order. The TSP record keeper will approve a court order appointing an agent if the following conditions are met: (1) A court of competent jurisdiction (as defined at § 1690.1) must have issued the court order; (2) The court order must give the agent either general or specific powers, as explained in paragraphs (b) and (c) of this section; and (3) The agent must demonstrate that he or she meets any precondition specified in the court order, such as a bonding requirement. (b) A general grant of authority gives a guardian or conservator unlimited authority to conduct business with the TSP, including the authority to sign any TSP-related document. By way of example, an order gives a general grant authority by appointing a “guardian of the ward's estate,” by permitting a guardian to “conduct business transactions” for the ward, or by authorizing a guardian to care for the ward's “personal property” or “Federal Government retirement benefits.” (c) A specific grant of authority gives a guardian or conservator authority to conduct specific TSP transactions. Such an order must expressly describe the authority it grants. By way of example, an order may authorize an agent to “obtain information about the ward's TSP account” or “borrow or withdraw funds from the ward's TSP account.”

5 C.F.R. § 1690.14 Checks made payable to the Thrift Savings Plan.

(a) Accord and satisfaction. The TSP does not agree to accept less than the total amount due by negotiating an instrument such as a check, share draft or money order with a restrictive legend on it (such as “payment in full” or “submitted in full satisfaction of claims”), or by negotiating an instrument that is conditionally tendered to the TSP with an offer of compromise. (b) TSP payment address. The TSP record keeper has established an address for the receipt of specified TSP payments. The TSP record keeper will not answer correspondence mailed to that payment address.

5 C.F.R. § 1690.15 Freezing an account—administrative holds.

(a) The TSP record keeper may freeze (e.g., place an administrative hold on) a participant's account for any of the following reasons: (1) Pursuant to a qualifying retirement benefits court order as set forth in part 1653 of this chapter; (2) Pursuant to a request from the Department of Justice under the Mandatory Victims Restitution Act; (3) Upon the death of a participant; (4) Upon suspicion or knowledge of fraudulent account activity or identity theft; (5) In response to litigation pertaining to an account; (6) For operational reasons (e.g., to correct a processing error or to stop payment on a check when account funds are insufficient); (7) Pursuant to a written request from a participant made in the manner prescribed by the TSP record keeper; and (8) For any other reason necessary to ensure the integrity of TSP accounts or compliance with law. (b) [Reserved]

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