TITLE 5 - ADMINISTRATIVE PERSONNEL

CHAPTER VI - FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

SUBCHAPTER C - JOINT REGULATIONS WITH THE OFFICE OF PERSONNEL MANAGEMENT

PART 1600 - EMPLOYEE CONTRIBUTION ELECTIONS AND CONTRIBUTION ALLOCATIONS

subpart b - ELECTIONS

1600.14 - 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) Eligibility to make employee contributions, and therefore to have agency matching contributions made on the employee's behalf, is subject to the restrictions on making employee contributions after receipt of a financial hardship in-service withdrawal described at 5 CFR part 1650.

  (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.

[70 FR 32207, June 1, 2005]