5 C.F.R. PART 1603—VESTING
Title 5 - Administrative Personnel
Authority: 5 U.S.C. 8432(g), 8432b(h)(1), 8474(b)(5) and (c)(1).
Source: 52 FR 29835, Aug. 12, 1987, unless otherwise noted.
(a) Definitions generally applicable to the Thrift Savings Plan are set forth at 5 CFR 1690.1. (b) As used in this part: Service means: (1) Any non-military service that is creditable under either 5 U.S.C. chapter 83, subchapter III, or 5 U.S.C. 8411. However, that service is to be determined without regard to any time limitations, any deposit or redeposit requirements contained in those statutory provisions after performing the service involved, or any requirement that the individual give written notice of that individual's desire to become subject to the retirement system established by 5 U.S.C. chapters 83 or 84; or (2) Any military service creditable under the provisions of 5 U.S.C. 8432b(h)(1) and the regulations at 5 CFR part 1620, subpart H. Uniformed services means the Army, Navy, Air Force, Marine Corps, Coast Guard, Public Health Service, and National Oceanic and Atmospheric Administration, as well as members of the Ready Reserve including the National Guard. Vested means those amounts in an individual account which are nonforfeitable. Year of service means one full calendar year of service. [68 FR 35497, June 13, 2003] (a) All amounts in a CSRS employee's or uniformed service member's individual account are immediately vested. (b) Except as provided in paragraph (c) of this section, all amounts in a FERS employee's individual account (including all first conversion contributions) are immediately vested. (c) Except as provided in paragraph (d) of this section, upon separation from Government service without meeting the applicable service requirements of §1603.3, a FERS employee's agency automatic (1%) contributions and attributable earnings will be forfeited. (d) If a FERS employee dies (or died) after January 7, 1988, without meeting the applicable service requirements set forth in §1603.3, the agency automatic (1%) contributions and attributable earnings in his or her individual account are deemed vested and shall not be forfeited. If a FERS employee died on or before January 7, 1988, without meeting those service requirements, his or her agency automatic (1%) contributions and attributable earnings are forfeited to the Thrift Savings Plan. [52 FR 29835, Aug. 12, 1987, as amended at 62 FR 33969, June 23, 1997; 68 FR 35497, June 13, 2003] (a) Except as provided under paragraph (b) of this section, FERS employees will be vested in their agency automatic (1%) contributions and attributable earnings upon separating from Government only if, as of their separation date, they have completed three years of service. (b) FERS employees will be vested in their agency automatic (1%) contributions and attributable earnings upon separating from Government service if, as of their separation date, they have completed two years of service and they are serving in one of the following positions: (1) A position in the Senior Executive Service as a non-career appointee (as defined in 5 U.S.C. 3132(a)(7)); (2) Positions listed in 5 U.S.C. 5312, 5313, 5314, 5315 or 5316; (3) A position placed in level IV or level V of the Executive Schedule, pursuant to 5 U.S.C. 5317; (4) A position in the Executive Branch which is excepted from the competitive service by the Office of Personnel Management because of the confidential and policy-determining character of the position; or (5) A Member of Congress or a Congressional employee. [52 FR 29835, Aug. 12, 1987, as amended at 60 FR 24535, May 9, 1995; 62 FR 33969, June 23, 1997]
Title 5: Administrative Personnel
PART 1603—VESTING
Section Contents
§ 1603.1 Definitions.
§ 1603.2 Basic vesting rules.
§ 1603.3 Service requirements.
§ 1603.1 Definitions.
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§ 1603.2 Basic vesting rules.
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§ 1603.3 Service requirements.
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