5 C.F.R. Subpart B—Miscellaneous
Title 5 - Administrative Personnel
The Thrift Savings Plan's plan year is established on a calendar-year basis for all purposes, except where another applicable provision of law requires that a fiscal year or other basis be used. As used in this section, the term “calendar-year basis” means a twelve-month period beginning on January 1 and ending on December 31 of the same year. (a) A participant or beneficiary can appoint an agent to conduct business with the TSP on his or her behalf by using a power of attorney (POA). The agent is called an attorney-in-fact. The TSP must approve a POA before the agent can conduct business with the TSP; however, the TSP will accept a document that was signed by the agent before the TSP approved the POA. The TSP will approve a POA if it meets the following conditions: (1) The POA must give the agent either general or specific powers, as explained in paragraphs (b) and (c) of this section; (2) A notary public or other official authorized by law to administer oaths or affirmations must authenticate, attest, acknowledge, or certify the participant's or beneficiary's signature on the POA; and (3) The POA must be submitted to the TSP recordkeeper for approval. (b) General power of attorney. A general POA gives an agent unlimited authority to conduct business with the TSP, including the authority to sign any TSP-related document. By way of example, a POA grants such authority by authorizing the agent to act on behalf of the participant or beneficiary with respect to “all matters,” “personal property,” “Federal Government retirement benefits,” or “business transactions.” (c) Specific power of attorney. A specific power of attorney gives an agent the authority to conduct specific TSP transactions. A specific POA must expressly describe the authority it grants. By way of example, a specific POA may authorize an agent to “obtain information about my TSP account” or “borrow or withdraw funds from my TSP account.” [69 FR 29852, May 26, 2004] (a) A court order can authorize an agent to conduct business with the TSP on behalf of an incapacitated participant or beneficiary. The agent is called a guardian or conservator and the incapacitated person is called a ward. The TSP must approve a court order before an agent can conduct business with the TSP; however, the TSP will accept a document that was signed by the agent before the TSP approved the court order. The TSP will approve a court order appointing an agent if the following conditions are met: (1) A court of competent jurisdiction (as defined at 5 CFR 1690.1) must have issued the court order; (2) The court order must give the agent either general or specific powers, as explained in paragraphs (b) and (c) of this section; (3) The agent must satisfy the TSP that he or she meets any precondition specified in the court order, such as a bonding requirement; (4) The court order must be submitted to the TSP record keeper for approval. (b) General grant of authority. A general grant of authority gives a guardian or conservator unlimited authority to conduct business with the TSP, including the authority to sign any TSP-related document. By way of example, an order gives a general grant authority by appointing a “guardian of the ward's estate,” by permitting a guardian to “conduct business transactions” for the ward, or by authorizing a guardian to care for the ward's “personal property” or “Federal Government retirement benefits.” (c) Specific grant of authority. A specific grant of authority gives a guardian or conservator authority to conduct specific TSP transactions. Such an order must expressly describe the authority it grants. By way of example, an order may authorize an agent to “obtain information about the ward's TSP account” or “borrow or withdraw funds from the ward's TSP account.” [69 FR 29852, May 26, 2004] (a) Accord and satisfaction. The TSP does not agree to accept less than the total amount due by negotiating an instrument such as a check, share draft or money order with a restrictive legend on it (such as “payment in full” or “submitted in full satisfaction of claims”), or by negotiating an instrument that is conditionally tendered to the TSP with an offer of compromise. (b) TSP Payment Address. The TSP has established an address for the receipt of specified TSP payments. The TSP will not answer correspondence mailed to that payment address. [70 FR 32218, June 1, 2005]
Title 5: Administrative Personnel
PART 1690—THRIFT SAVINGS PLAN
Subpart B—Miscellaneous
§ 1690.11 Plan year.
§ 1690.12 Power of attorney.
§ 1690.13 Guardianship and conservatorship orders.
§ 1690.14 Checks made payable to the Thrift Savings Plan.
