[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1650.16]

[Page 275]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1650_METHODS OF WITHDRAWING FUNDS FROM THE THRIFT SAVINGS PLAN--Table of 
 
                  Subpart B_Post-Employment Withdrawals
 
Sec. 1650.16  Required withdrawal date.

    (a) A participant must withdraw his or her account under Sec. 
1650.12, or begin receiving payments under Sec. Sec. 1650.13 or 
1650.14, by April 1 of the year following the year in which the 
participant reaches 70\1/2\ years of age or separates from Government 
service, whichever is later.
    (b) For account balances of $200 or more, a separated participant 
may elect to withdraw his or her account or to begin receiving payments 
before the date described in paragraph (a) of this section, but is not 
required to do so.
    (c) In the event that a participant does not withdraw his or her 
account or begin receiving payments in accordance with paragraph (a) of 
this section, the Board will transfer all of the funds in the 
participant's account not already invested in the Government Securities 
Investment (G) Fund to that fund. A notice of this action will be sent 
to the participant with a warning that his or her account will be 
declared abandoned and forfeited unless the participant comes into 
compliance with paragraph (a) by a date certain specified in the notice.
    (d) If the participant does not take the appropriate withdrawal 
action described in paragraph (c) of this section, the Board will 
purchase an annuity for the participant after the following steps have 
been taken:
    (1) The account has been declared abandoned and the funds in the 
account have been forfeited;
    (2) A notice of this action has been sent to the participant;
    (3) The participant reclaims the account balance that was abandoned, 
but decides against a withdrawal pursuant to Sec. Sec. 1650.12 or 
1650.13; and
    (4) The participant provides the information that the Board needs to 
purchase an annuity pursuant to Sec. 1650.14.

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