Back pay awards and other retroactive pay adjustments.

CFR · 2024-01-01 · US · Title 5

(a) (1) If the participant is reinstated or retroactively appointed to a hich TSP participation is authorized, immediately upon reinstatement or retroactive appointment the employing agency must give the participant the opportunity to submit a contribution election to make current contributions. The contribution election will be effective as soon as administratively feasible, but no later than the first day of the first full pay period after it is received. (2) The employing agency must give a reinstated or retroactively appointed participant the following options for electing makeup contributions: (i) The reinstated or retroactively appointed participant may submit a new contribution election for purposes of makeup contributions if he or she would have been eligible to make such an election but for the erroneous separation or erroneous failure to appoint; or (ii) If a reinstated participant had a contribution election on file when he or she separated, the contribution election the participant had on file when he or she separated may be reinstated for purposes of makeup contributions. (3) All contributions made under this paragraph (a) and associated breakage will be invested according to the participant's investment election on the posting date. Breakage will be calculated using the share prices for the default investment fund in effect for the participant in accordance with § 1605.2 unless otherwise required by the employing agency or the court or other tribunal with jurisd

official document · source cfr-2024 · id 5:§ 1605.13