Collapse to view only § 1600.12 - Contribution elections.
- § 1600.11 - Types of elections.
- § 1600.12 - Contribution elections.
- § 1600.13 - Effect of transfer to FERS.
- § 1600.14 - Effect of election to be covered by BRS.
§ 1600.11 - Types of elections.
(a) Contribution elections. A contribution election must be made pursuant to § 1600.12 and includes the following types of elections:
(1) To make employee contributions;
(2) To change the amount of employee contributions;
(3) To change the type of employee contributions (traditional or Roth); or
(4) To terminate employee contributions.
(b) Investment election. A participant may make or change the manner in which future deposits to his or her account are allocated among the TSP core funds only in accordance with 5 CFR part 1601.
§ 1600.12 - Contribution elections.
(a) An employee may make a contribution election at any time.
(b) A participant must submit a contribution election to his or her employing agency. To make an election, employees may use either the paper election form provided by the TSP, or, if available from their employing agency, electronic media. If an electronic medium is used, all relevant elements contained on the paper form must be included in the electronic medium.
(c) A contribution election must:
(1) Be completed in accordance with the instructions on the form, if a paper form is used;
(2) Be made in accordance with the employing agency's instructions, if the submission is made electronically; and
(3) Not exceed the maximum contribution limitations described in § 1600.22.
(d) A contribution election will become effective no later than the first full pay period after it is received by the employing agency.
(e) A uniformed service member may elect to contribute sums to the TSP from basic pay and special or incentive pay (including bonuses). However, in order to contribute to the TSP from special or incentive pay (including bonuses), the uniformed service member must also elect to contribute to the TSP from basic pay. A uniformed service member may elect to contribute from special pay or incentive pay (including bonuses) in anticipation of receiving such pay (that is, he or she does not have to be receiving the special or incentive pay (including bonuses) when the contribution election is made); those elections will take effect when the uniformed service member receives the special or incentive pay (including bonuses).
§ 1600.13 - Effect of transfer to FERS.
(a) If an employee appointed to a position covered by CSRS elects to transfer to FERS, the employee may make a contribution election at any time.
(b) [Reserved]
(c) If the employee had elected to make TSP contributions while covered by CSRS, the election continues to be valid until the employee makes a new valid election.
(d) Agency automatic (1%) contributions for all employees covered under this section and, if applicable, agency matching contributions attributable to employee contributions must begin the same pay period that the transfer to FERS becomes effective.
§ 1600.14 - Effect of election to be covered by BRS.
(a) If a uniformed service member elects to be covered by BRS, the member may make a contribution election at any time.
(b) [Reserved]
(c) If the member had elected to make TSP contributions while not covered by BRS, the election remains effective until the member makes a new election.
(d) Agency automatic (1%) contributions for all members covered under this section and, if applicable, agency matching contributions attributable to employee contributions must begin at the time set forth in § 1600.19(c).