PRIA, Government Policy, Made Personal

Summary

Require the Executive Director to write rules to add a Roth option to the Thrift Savings Plan. A "qualified Roth contribution program" means the Roth program described in Internal Revenue Code section 402A. "Designated Roth contribution" and "elective deferral" mean what those terms mean in IRC section 402A. The rules must let people who are eligible under sections 8351, 8432(a), 8440a, 8440b, 8440c, 8440d, or 8440e choose to make designated Roth contributions, and must also allow any other person who can make elective deferrals under the TSP to choose Roth contributions. The rules must clarify any reference to an “account” in sections 8432(f), 8433, 8434(d), 8435, 8437, or other laws, and include any other provisions needed to carry out the program, under terms the Board may set.

Title 5, §8432d

Government Organization and Employees, Source: USLM XML via OLRC

(a)Definitions.—

For purposes of this section

(1)

(2)the terms “designated Roth contribution” and “elective deferral” have the meanings given such terms in section 402A of the Internal Revenue Code of 1986.

(b)Authority To Establish.—

The Executive Director shall by regulation provide for the inclusion in the Thrift Savings Plan of a qualified Roth contribution program, under such terms and conditions as the Board may prescribe.

(c)Required Provisions.—

The regulations under subsection (b) shall include—

(1)provisions under which an election to make designated Roth contributions may be made—

(A)by any individual who is eligible to make contributions under section 8351, 8432(a), 8440a, 8440b, 8440c, 8440d, or 8440e; and

(B)by any individual, not described in subparagraph (A), who is otherwise eligible to make elective deferrals under the Thrift Savings Plan;

(2)any provisions which may, as a result of enactment of this section, be necessary in order to clarify the meaning of any reference to an “account” made in section 8432(f), 8433, 8434(d), 8435, 8437, or any other provision of law; and

(3)any other provisions which may be necessary to carry out this section.

Editorial Notes

References in Text

section 402A of the Internal Revenue Code of 1986, referred to in subsec. (a), is classified to section 402A of Title 26, Internal Revenue Code.

§8432d Qualified Roth Contribution Program

Summary

Title 5, §8432d

Notes & Related Subsidiaries

Editorial Notes

References in Text

Citations & Metadata