[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]



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 Rules and Regulations
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  Federal Register / Vol. 62, No. 115 / Monday, June 16, 1997 / Rules 
and Regulations  

[[Page 32473]]


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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

5 CFR Part 1690


Miscellaneous Regulations

AGENCY: Federal Retirement Thrift Investment Board.

ACTION: Final rule.

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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]
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