[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: 5CFR1651.3]

[Page 276]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1651--DEATH BENEFITS--Table of Contents
 
Sec. 1651.3  Designation of beneficiary.

    (a) Filing requirements. In order to designate a beneficiary of a 
TSP account, the participant must complete and file Form TSP-3, 
Designation of Beneficiary, unless Form TSP-11-B is used for this 
purpose. All Forms TSP-3 and TSP-11-B signed on or after January 1, 
1995, must be received by the TSP record keeper on or before the 
participant's date of death. If the Form TSP-3 was received and accepted 
by the participant's employing agency before January 1, 1995, the TSP 
record keeper will process it and determine its validity when it is 
received from the employing agency. A valid Form TSP-3 remains in effect 
until it is properly canceled or changed as described in Sec. 1651.4.
    (b) Eligible beneficiaries. Any individual, firm, cor poration, or 
legal entity, including the U.S. Government, may be designated as a 
beneficiary. Any number of beneficiaries can be named to share the death 
benefit. A beneficiary may be designated without the knowledge or 
consent of the beneficiary or the knowledge or consent of the 
participant's spouse.
    (c) Validity requirements. In order to be valid, a Form TSP-3 must 
be signed by the participant in the presence of two witnesses, or the 
participant must acknowledge his or her signature on the Form TSP-3 in 
the presence of two wit nesses. A witness must be age 21 or older, and a 
witness designated as a beneficiary on the Form TSP-3 will not be 
entitled to receive a death benefit payment. If a witness is the only 
named beneficiary, the Form TSP-3 is invalid. If more than one 
beneficiary is named, the share of the witness beneficiary will be 
allocated among the remaining beneficiaries pro rata.
    (d) Will. A will, or any document other than Form TSP-3 or Form TSP-
11-B, may not be used to designate a beneficiary(ies) of a TSP account.