Title 5 — Government Organization and EmployeesRelease 119-73
§8479 Exculpatory provisions; insurance
Title 5 › Part PART III— - EMPLOYEES › Subpart Subpart G— - Insurance and Annuities › Chapter CHAPTER 84— - FEDERAL EMPLOYEES’ RETIREMENT SYSTEM › Subchapter SUBCHAPTER VII— - FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM › § 8479
Summary
Voids any agreement freeing a fiduciary from responsibility under this subchapter. Executive Director may require agencies to add up to 1 percent of their section 8432(c) contributions to the Thrift Savings Fund and may use those sums to buy insurance for fiduciaries, even if the insurer may recover.
Full Legal Text
Title 5, §8479
Government Organization and Employees — Source: USLM XML via OLRC
(a)Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this subchapter shall be void.
(b)(1)The Executive Director may require employing agencies to contribute an amount not to exceed 1 percent of the amount such agencies are required to contribute in accordance with section 8432(c) of this title to the Thrift Savings Fund.
(2)The sums credited to the Thrift Savings Fund under paragraph (1) shall be available and may be used at the discretion of the Executive Director to purchase insurance to cover potential liability of persons who serve in a fiduciary capacity with respect to the Thrift Savings Fund, without regard to whether a policy of insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation.
Reference
Citations & Metadata
Citation
5 U.S.C. § 8479
Title 5 — Government Organization and Employees
Last Updated
Apr 6, 2026
Release point: 119-73