[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: 5CFR1650.22]

[Page 269]
 
                    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 C--Procedures for Post-Employment Withdrawals
 
Sec. 1650.22  Accounts of $3,500 or less.

    (a) Unless he or she has already submitted a complete withdrawal 
election and can be scheduled for payment, a participant whose account 
balance is $3,500 or less as of the month end following receipt of 
separation information from the employing agency will be sent a notice 
informing him or her that the account balance will be paid directly to 
the participant automatically in the third monthly processing cycle 
following the date of the notice if the account is still $3,500 or less 
on the date of payment. The notice will inform the participant that he 
or she can:
    (1) Choose to transfer all or part of the payment to an Individual 
Retirement Arrangement (IRA) or other eligible retirement plan;
    (2) Choose another withdrawal method (as described in subpart B of 
this part);
    (3) Choose to have the payment made directly to him or her as soon 
as possible; or
    (4) Choose to leave his or her money in the Plan.
    (b) If the participant does not take one of the actions described in 
paragraph (a) of this section, payment will be made as scheduled.
    (c) No spousal rights attach to any post-employment withdrawals made 
to a participant whose account balance is $3,500 or less.
    (d) If a participant's account balance is $3,500 or less after 
separation but later increases to more than $3,500, this section will 
cease to apply to that participant.
    (e) This section does not apply to accounts containing a balance of 
less than $5.00.