[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: 5CFR1655.1]

[Page 288]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1655--LOAN PROGRAM--Table of Contents
 
Sec. 1655.1  Definitions.

    Account or Individual Account means the account established for a 
participant in the Thrift Savings Plan under 5 U.S.C. 8439(a).
    Agency means the entity employing a participant with an account in 
the Thrift Savings Plan.
    Amortization means the reduction in a loan by periodic payments of 
principal and interest according to a schedule of payments.
    Board means the Federal Retirement Thrift Investment Board.
    C Fund means the Common Stock Index Investment Fund established 
under 5 U.S.C. 8438(b)(1)(C).
    CSRS means the Civil Service Retirement System established by 
subchapter III of chapter 83 of title 5, United States Code or any 
equivalent retirement system.
    Date of Application means the date on which the recordkeeper 
receives the loan application.
    Days means calendar days except when otherwise stated.
    Employee Contributions means any contributions made under 5 U.S.C. 
8432(a), 5 U.S.C. 8351(a), 5 U.S.C. 8440a or the second 5 U.S.C. 8440a.
    FERS means the Federal Employees' Retirement System established by 
chapter 84 of Title 5, United States Code or any equivalent retirement 
system.
    F Fund means the Fixed Income Investment Fund established under 5 
U.S.C. 8438(b)(1)(B).
    G Fund means the Government Securities Investment Fund established 
under 5 U.S.C. 8438(b)(1)(A).
    G Fund Rate means the interest rate computed under 5 U.S.C. 
8438(f)(2).
    Interim Account Balance means the unvalued account balance of a 
participant's account on the last business day of the month.
    Loan Issue Date means the date on which the recordkeeper authorizes 
a check for the loan principal amount to be issued.
    Loan Process Date means the date the loan application is processed 
by the recordkeeper. This is the date that is printed on the Loan 
Agreement/Promissory Note.
    Loan Repayment Period means the number of scheduled payments 
required to repay a loan in full.
    Monthly Processing Cycle means the process, beginning on the evening 
of the fourth business day of the month, by which the recordkeeper 
allocates the amount of earnings to be credited to participant accounts 
in the Plan and authorizes disbursements from the Plan.
    Participant means a person with an individual account in the Thrift 
Savings Fund.
    Principal or Principal Amount means the amount borrowed by a 
participant from his or her individual account, or, after 
reamortization, the amount financed.
    Recordkeeper means the organization designated by the Board as the 
Thrift Savings Plan's recordkeeper.
    Required Reamortization means the mandatory recalculation of 
periodic payments of principal and interest, made to reduce a loan, at 
the demand of the Plan.
    Taxable Distribution means the reporting to the Internal Revenue 
Service as taxable income the amount of outstanding principal and 
interest on a loan upon failure by the participant to repay the loan in 
full according to the terms of the Loan Agreement/Promissory Note.
    Thrift Savings Fund or Fund means the Fund described in 5 U.S.C. 
8437.
    Thrift Savings Plan or Plan means the Federal Retirement Thrift 
Savings Plan established under subchapter III of the Federal Employees' 
Retirement System Act of 1986, 5 U.S.C. 843l, et seq.
    Valuation Date means the date as of which earnings are allocated to 
individual accounts. For any month, this date is the last day of the 
month.
    Vested Account Balance means that portion of the individual account 
which is not subject to forfeiture under 5 U.S.C. 8432(g).
    Voluntary Reamortization means the recalculation of periodic 
payments of principal and interest, made to reduce a loan, at the 
request of a participant.

[55 FR 979, Jan. 10, 1990, as amended at 61 FR 58755, Nov. 18, 1996]

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