[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1605.9]

[Page 197]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1605--CORRECTION OF ADMINISTRATIVE ERRORS--Table of Contents
 
                   Subpart D--Miscellaneous Provisions
 
Sec. 1605.9  Miscellaneous provisions.


    (a)(1) If all employee contributions are removed from a 
participant's account under the rules set forth in this part, but 
earnings on any of those employee contributions or other residual 
amounts are left in the account, the earnings will remain in the account 
unless the participant was ineligible to have an account in the TSP at 
the time the earnings were credited to the account and remains 
ineligible. In that case, the earnings will be removed from the account 
and paid to the ineligible participant. If earnings remain in the 
account under this paragraph (a), they will be subject to withdrawal 
from the participant's account upon separation from Federal employment 
under the same withdrawal rules as apply to any other money in a 
participant's account.
    (2) If any residual earnings on employer contributions remain in a 
participant's account after all employer have been removed from the 
account, those residual earnings will be removed from the account and 
used to offset TSP administrative expenses.
    (b) If a participant fails to participate in the TSP due to 
circumstances beyond his or her control but not due to circumstances 
attributable to employing agency, Board, or TSP recordkeeper error, the 
participant will be entitled to elect to participate effective not later 
than the first pay period after the participant submits a contribution 
election form (Form TSP-1), regardless of whether the form is submitted 
during an election period. Such belated elections will be permitted on a 
prospective basis only; no makeup contributions will be permitted under 
this part.
    (c) If TSP contributions are invested in the wrong investment 
fund(s) because of employing agency error, that error may be corrected 
only in accordance with 5 CFR 1606.7. Such errors may not be corrected 
under this part.
    (d)(1) The address for the TSP recordkeeper is: National Finance 
Center, TSP Service Office, Post Office Box 61500, New Orleans, LA 
70161-1500.
    (2) The address for the Board is: Federal Retirement Thrift 
Investment Board, 1250 H Street, N.W., Washington, DC 20005.

[61 FR 68472, Dec. 27, 1996, as amended at 62 FR 48936, Sept. 18, 1997]