[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: 5CFR1645.3]

[Page 261-262]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1645--ALLOCATION OF EARNINGS--Table of Contents
 
Sec. 1645.3  Calculation of net earnings for each investment fund.

    (a) For each valuation period, net earnings will be calculated 
separately for each investment fund.
    (b) Net earnings for each investment fund will equal:
    (1) The sum of the following items, if any, accrued during the 
current valuation period:
    (i) Interest on money of that investment fund which is invested with 
the G Fund;
    (ii) Interest on other short-term investments of the investment 
fund;
    (iii) Income (such as dividends and interest) on other investments 
of the investment fund; and
    (iv) Capital gain or loss on investments of the investment fund, net 
of transaction costs.
    (2) Minus the accrued administrative expenses of the investment 
fund, determined in accordance with Sec. 1645.4.
    (c) The net earnings for each investment fund resulting from 
paragraph (b) of this section will be adjusted by residual net earnings 
from the previous valuation period for that investment fund, as 
described in Sec. 1645.6(b), to

[[Page 262]]

produce the earnings available for allocation to the participant 
accounts in the respective investment fund for the current valuation 
period.

[53 FR 15621, May 2, 1988, as amended at 61 FR 58974, Nov. 20, 1996]