[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: 5CFR1655.1]

[Page 295]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1655_LOAN PROGRAM--Table of Contents
 
Sec. 1655.1  Definitions.

    (a) Definitions generally applicable to the Thrift Savings Plan are 
set forth at 5 CFR 1690.1.
    (b) As used in this part:
    Amortization means the reduction in a loan by periodic payments of 
principal and interest according to a schedule of payments.
    Date of application means the day on which the TSP record keeper 
receives the loan application, either electronically or on the TSP Web 
site or on a paper TSP form.
    General purpose loan means any TSP loan other than a loan for the 
purchase or construction of a primary residence.
    Guaranteed funds means a cashier's check, money order, certified 
check (i.e., a check certified by the financial institution on which it 
is drawn), cashier's draft, or treasurer's check from a credit union.
    Loan issue date means the date on which the TSP record keeper 
disburses funds from the participant's account for the loan amount.
    Loan repayment period means the time over which payments that are 
required to repay a loan in full are scheduled.
    Principal or principal amount means the amount borrowed by a 
participant from his or her individual account, or, after 
reamortization, the amount financed.
    Reamortization means the recalculation of periodic payments of 
principal and interest.
    Residential loan means a TSP loan for the purchase or construction 
of a primary residence.
    Taxable distribution means the amount of outstanding principal and 
interest on a loan which must be reported to the Internal Revenue 
Service as taxable income as a result of the failure of a participant to 
repay a loan in full, according to the terms of the loan agreement.

[68 FR 35515, June 13, 2003, as amended at 70 FR 32217, June 1, 2005]