[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: 5CFR1650.14]

[Page 267-268]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1650--METHODS OF WITHDRAWING FUNDS FROM THE THRIFT SAVINGS PLAN--Table of Contents
 
                 Subpart B--Post-Employment Withdrawals
 
Sec. 1650.14  Deferred withdrawal elections.

    (a) Subject to paragraph (b) of this section, a participant who 
separates from Government employment and elects to withdraw his or her 
account under one of the methods provided in Secs. 1650.10, 1650.11 or 
1650.12 may specify a future date (which shall be a month and year) for 
payment of the withdrawal.
    (b) The future date chosen under this section cannot be later than 
March of

[[Page 268]]

the year following the year in which the participant becomes age 70\1/
2\. If that date has already passed when the participant makes an 
election, the participant cannot choose a future date.
    (c) If the withdrawal method chosen for future payment is a single 
payment or monthly payments (and the date specified for payment is more 
than four months in the future on the date the election form is 
processed), the participant will be notified before the date chosen that 
such payments are scheduled to begin. If the payments are eligible roll-
over distributions, the participant may choose to transfer all or part 
of the payments to an Individual Retirement Arrangement (IRA) or another 
eligible retirement plan.
    (d) If the withdrawal method chosen for future payment is an annuity 
(and the date specified for payment is more than four months in the 
future on the date the election form is processed), the participant will 
be notified before the date chosen. At that time, the participant will 
be sent information asking him or her to choose an annuity method, name 
a beneficiary (if the cash refund or 10-year certain feature is chosen), 
and provide any necessary spousal waiver or spousal information.