16 Apr 2025
💰Final Rule on Late Contributions
Breakage on Late Contributions, Makeup Contributions, and Loan Payments
Summary
The Federal Retirement Thrift Investment Board (FRTIB) adopts as final, without changes, the proposed rule permitting the TSP record keeper to calculate gains and losses on late contributions, makeup contributions, loan payments even when the total amount on a late payment record or total agency contributions on a current payment record is less than $1.00.
Agencies
- Federal Retirement Thrift Investment Board
Business Impact
$$ - Med
The final rule allows for the calculation of gains/losses on minimal late contributions and loans in the Thrift Savings Plan, impacting federal employees' retirement savings. This could affect cash flow and compliance for businesses managing employee contributions and loans.