[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: 5CFR1606.4]

[Page 200]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1606--LOST EARNINGS ATTRIBUTABLE TO EMPLOYING AGENCY ERRORS--Table of Contents
 
                      Subpart A--General Provisions
 
Sec. 1606.4  Applicability.

    (a) In general. Except as otherwise provided, the provisions of this 
part 1606 apply in any case where, due to employing agency error, the 
Thrift Savings Fund has not invested or had the use of money that would 
have been invested in the Thrift Savings Fund had the employing agency 
error not occurred, or where the money would have been invested in a 
different investment fund had the error not occurred.
    (b) Back pay awards and other retroactive pay adjustments. The 
application of this part 1606, as described in paragraph (a) of this 
section, includes TSP contributions derived from payments associated 
with back pay awards or other retroactive pay adjustments that are based 
on a determination that the employing agency paid a participant less 
than the full amount of basic pay to which the participant was entitled.
    (c) Timing of errors. This part 1606 applies regardless of whether 
the employing agency error that caused the effects described in 
paragraph (a) of this section occurred prior to, at, or after the 
inception of the TSP.
    (d) De minimis rules. Notwithstanding paragraphs (a) through (c) of 
this section or any other provision of this part 1606:
    (1) Lost earnings shall not be payable where the amount of money for 
a source of contributions in a participant's account that is not 
invested in the Thrift Savings Fund due to an employing agency error, or 
that is invested in the wrong investment fund due to an employing agency 
error, is less than one dollar ($1.00) for that source of contributions. 
Where the employing agency error caused delayed or erroneous 
contributions for more than one pay period, this paragraph shall apply 
separately to each pay period involved.
    (2) Where the employing agency error caused delay in submission of 
TSP payment records or loan allotments, lost earnings shall not be 
payable unless the belated contributions or loan allotments were 
received by the TSP recordkeeper more than 30 days after the pay date 
associated with the pay period for which the contributions or loan 
allotments would have been submitted had the employing agency error not 
occurred.
    (3) For employing agency errors not covered by paragarph (d)(2) of 
this section, lost earnings shall not be payable unless, as the result 
of an employing agency error, money was not invested in the Thrift 
Savings Fund for a period extending more than 30 days after the date it 
would have been invested had the error not occurred.
    (4) The 30-day requirements contained in paragraphs (d)(2) and 
(d)(3) of this section do not apply where, due to employing agency 
error, money in a participant's account has been invested in an 
incorrect investment fund.
    (e) Contributions for pre-1987 service. This part does not apply to 
errors involving employing agency delay in submitting contributions 
required by 5 U.S.C. 8432(c)(3).
    (f) Contributions for service in January through March 1987. 
Notwithstanding any other provision of this section, lost earnings shall 
be payable with respect to contributions made pursuant to 5 U.S.C. 
8432(c)(1) (B) or (C) if the payment records containing those 
contributions were received by the TSP recordkeeper after April 30, 
1987.