[Federal Register Volume 74, Number 125 (Wednesday, July 1, 2009)]
[Rules and Regulations]
[Page 31345]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-15536]



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  Federal Register / Vol. 74, No. 125 / Wednesday, July 1, 2009 / Rules 
and Regulations  

[[Page 31345]]



FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

5 CFR Part 1600


Employee Contribution Elections and Contribution Allocations

AGENCY: Federal Retirement Thrift Investment Board.

ACTION: Interim final rule with request for comments.

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SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is 
announcing the effective date of its regulation published on June 19, 
2009 (74 FR 29111) pertaining to the timing of agency contributions.

DATES: Effective Date: The Agency's interim final rule published on 
June 19, 2009 (74 FR 29111) took effect on June 22, 2009 when President 
Obama signed HR 1256 (Pub. L. 111-31) which contained the Thrift 
Savings Plan Enhancement Act of 2009 (Act).

FOR FURTHER INFORMATION CONTACT: Laurissa Stokes at (202) 942-1645.

SUPPLEMENTARY INFORMATION: The Act provides that Agency Automatic (1%) 
Contributions and Agency Matching Contributions shall commence 
immediately. The regulatory amendment is necessary because FRTIB 
regulations follow current law, which provides that Agency Automatic 
(1%) Contributions and Agency Matching Contributions shall not commence 
until the equivalent of the second open season that begins after the 
employee commenced employment. The FRTIB is setting a August 1, 2009 
effective date for this regulation to allow employing agencies 
sufficient time to make the necessary computer programming changes to 
implement it. The regulation took effect on June 22, 2009, and 
employing agencies must implement this change as soon as practicable 
but no later than the first pay period in August.

Gregory T. Long,
Executive Director, Federal Retirement Thrift Investment Board.
[FR Doc. E9-15536 Filed 6-30-09; 8:45 am]
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