[Federal Register Volume 62, Number 115 (Monday, June 16, 1997)] [Rules and Regulations] [Page 32473] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-15723] ======================================================================== Rules and Regulations Federal Register ________________________________________________________________________ This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. Prices of new books are listed in the first FEDERAL REGISTER issue of each week. ======================================================================== Federal Register / Vol. 62, No. 115 / Monday, June 16, 1997 / Rules and Regulations [[Page 32473]] ======================================================================= ----------------------------------------------------------------------- FEDERAL RETIREMENT THRIFT INVESTMENT BOARD 5 CFR Part 1690 Miscellaneous Regulations AGENCY: Federal Retirement Thrift Investment Board. ACTION: Final rule. ----------------------------------------------------------------------- SUMMARY: The Executive Director of the Federal Retirement Thrift Investment Board (Board) is adopting as final the Board's interim Thrift Savings Plan (TSP) plan year regulations. DATES: This regulation is effective June 16, 1997. FOR FURTHER INFORMATION CONTACT: Merritt A. Willing on (202) 942-1666. SUPPLEMENTARY INFORMATION: The Board administers the TSP, a defined contribution plan for Federal employees established by the Federal Employees' Retirement System Act of 1986, Pub. L. 99-335, 100 Stat. 514 (codified, as amended, largely at 5 U.S.C. 8401-8479). An employee benefit plan must establish a plan year for accounting and auditing purposes. Under 5 U.S.C. 8439(b), the Board must engage a certified public accountant to perform an annual audit of the Thrift Savings Fund for the preceding year. A plan year must be established by the TSP to allow these necessary audits to be performed. On November 12, 1987, the Board published an interim rule, with a request for comments, in the Federal Register (52 FR 43315), establishing a plan year for the TSP. For administrative convenience, the plan year adopted by the Board is the same as the calendar year. Unless otherwise indicated in future regulations, this plan year will apply in all cases where the TSP must be evaluated on an annual basis. The sole exception to this principle will be situations where the Board is subject to Government financial requirements on a fiscal year basis. (The Federal Government's fiscal year is October 1 through September 31.) The Board received no comments on the interim rule and therefore is adopting it as final without change. Regulatory Flexibility Act I certify that these regulations will not have a significant economic impact on a substantial number of small entities. They will affect only Federal Government procedures related to the TSP. Paperwork Reduction Act I certify that these regulations do not require additional reporting under the criteria of the Paperwork Reduction Act of 1980. Unfunded Mandates Reform Act of 1995 Pursuant to the Unfunded Mandates Reform Act of 1995, Pub. L. 104- 4, section 201, 109 Stat. 48, 64, the effect of these regulations on State, local and tribal governments and on the private sector has been assessed. This regulation will not compel the expenditure in any one year of $100 million or more by any State, local or tribal governments in the aggregate or by the private sector. Therefore, a statement under section 202, 109 Stat. 48, 64-65, is not required. Submission to Congress and the General Accounting Office Under 5 U.S.C. 801(a)(1)(A), the Board submitted a report containing this and other required information to the U.S. Senate, the U.S. House of Representatives, and the Comptroller General of the United States before the publication of this rule in today's Federal Register. This rule is not a major rule as defined in 5 U.S.C. 804(2). Federal Retirement Thrift Investment Board. Roger W. Mehle, Executive Director. Accordingly, the interim rule adding 5 CFR Part 1690, which was published at 52 FR 43315 on November 12, 1987, is adopted as final without change. [FR Doc. 97-15723 Filed 6-13-97; 8:45 am] BILLING CODE 6760-01-P