Designation of beneficiary.

CFR · 2024-01-01 · US · Title 5

(a) (b) (c) (1) Be received by the TSP record keeper on or before the date of the participant's death; (2) Identify the participant in such a manner so that the TSP record keeper can locate his or her TSP account; (3) Be signed and properly dated by the participant and signed and properly dated by one witness: (i) The participant must either sign the designation of beneficiary in the presence of the witness or acknowledge his or her signature on the designation of beneficiary to the witness; (ii) A witness must be age 21 or older; and (iii) A witness designated as a beneficiary will not be entitled to receive a death benefit payment; if a witness is the only named beneficiary, the designation of the beneficiary is invalid. If more than one beneficiary is named, the share of the witness beneficiary will be allocated among the remaining beneficiaries pro rata; (4) Designate primary beneficiary shares which when summed equal 100%; (5) Contain no substantive alterations (e.g., struck-through shares or scratched-out names of beneficiaries); (6) Designate each primary and each contingent beneficiary in such a manner so that the TSP record keeper can identify the individual or entity; (7) Not attempt to designate beneficiaries for the participant's traditional balance and the participant's Roth balance separately; and (8) Be received by the TSP record keeper not more than 365 calendar days after the date of the participant's most recent signature. (d)

official document · source cfr-2024 · id 5:§ 1651.3