[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: 5CFR1606.8]

[Page 203]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1606--LOST EARNINGS ATTRIBUTABLE TO EMPLOYING AGENCY ERRORS--Table of Contents
 
     Subpart B--Lost Earnings Attributable to Delayed or Erroneous 
                              Contributions
 
Sec. 1606.8  Late payroll submissions.

    (a) Payroll submissions received on or after January 1, 1991. All 
contributions on payment records contained in a payroll submission 
received from an employing agency by the TSP Recordkeeper on or after 
January 1, 1991 and more than 30 days after the pay date associated with 
the payroll submission (as reported on Form TSP-2, Certification of 
Transfer of Funds and Journal Voucher), shall be subject to lost 
earnings, as follows:
    (1) The TSP Recordkeeper shall generate a lost earnings record for 
each payment record contained in the late payroll submission. The lost 
earnings records generated by the TSP Recordkeeper shall reflect that 
the contributions on the payment records should have been made on the 
pay date associated with the payroll submission, that the contributions 
should have been deposited to the investment funds(s) indicated on the 
payment records, and that the contributions were actually made on the 
date the late payroll submission was processed.
    (2) The procedures applicable to lost earnings records submitted by 
employing agencies set forth in paragraphs (a)(2) through (a)(4) of 
Sec. 1606.5, shall be applied to lost earnings records generated by the 
TSP Recordkeeper pursuant to paragraph (a)(1) of this section.
    (b) Payroll submissions received before January 1, 1991. All 
contributions on payment records contained in a payroll submission 
received from an employing agency by the TSP Recordkeeper before January 
1, 1991 but more than 30 days after the pay date associated with the 
payroll submission (as reported on Form TSP-2, Certification of Transfer 
of Funds and Journal Voucher), shall be subject to lost earnings, as 
follows:
    (1) The employing agency shall, pursuant to instructions provided to 
employing agencies by the Board, submit to the TSP recordkeeper 
authorization for lost earnings to be computed on all contributions on 
the payment records contained in the payroll submission;
    (2) The procedures set forth in paragraphs (a)(1) and (a)(2) of this 
section shall apply.