§8432d Qualified Roth Contribution Program

Summary

Adds a Roth option to the Thrift Savings Plan and requires the Executive Director to create rules to include a qualified Roth contribution program, under terms the Board sets. Qualified Roth contribution program — the kind of Roth plan described in paragraph (1) of section 402A(b) of the Internal Revenue Code that meets paragraph (2) of that section. Designated Roth contribution and elective deferral — the meanings given in section 402A of the Internal Revenue Code. The rules must let people elect designated Roth contributions if they are eligible to contribute under sections 8351, 8432(a), 8440a, 8440b, 8440c, 8440d, or 8440e, and must also let anyone else who can make elective deferrals under the TSP participate. 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.