82 FR 21107 - Designation of Beneficiary

FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

Federal Register Volume 82, Issue 86 (May 5, 2017)

Page Range		21107-21107
FR Document		2017-09153

The Federal Retirement Thrift Investment Board (Agency) is amending its death benefits regulations to modify the requirements necessary in order for a designation of beneficiary form to be valid.

Federal Register, Volume 82 Issue 86 (Friday, May 5, 2017)

[Federal Register Volume 82, Number 86 (Friday, May 5, 2017)]
[Rules and Regulations]
[Page 21107]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-09153]



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Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 

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Federal Register / Vol. 82, No. 86 / Friday, May 5, 2017 / Rules and 
Regulations

[[Page 21107]]



FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

5 CFR Part 1651


Designation of Beneficiary

AGENCY: Federal Retirement Thrift Investment Board.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is 
amending its death benefits regulations to modify the requirements 
necessary in order for a designation of beneficiary form to be valid.

DATES: This rule is effective May 15, 2017.

FOR FURTHER INFORMATION CONTACT: Austen Townsend at (202) 864-8647.

SUPPLEMENTARY INFORMATION: The Agency administers the Thrift Savings 
Plan (TSP), which was established by the Federal Employees' Retirement 
System Act of 1986 (FERSA), Public Law 99-335, 100 Stat. 514. The TSP 
provisions of FERSA are codified, as amended, largely at 5 U.S.C. 8351 
and 8401-79. The TSP is a tax-deferred retirement savings plan for 
Federal civilian employees, members of the uniformed services, and 
spouse beneficiaries. The TSP is similar to cash or deferred 
arrangements established for private-sector employees under section 
401(k) of the Internal Revenue Code (26 U.S.C. 401(k)).
    On March 30, 2017, the Agency published a proposed rule with 
request for comments in the Federal Register (82 FR 15642, March 30, 
2017). The proposed rule amended 5 CFR 1651.3(c) to require that all 
pages of a TSP beneficiary designation form be signed and dated by the 
participant and only one witness. The Agency received no substantive 
comments and, therefore, is publishing the proposed rule as final 
without change.

Regulatory Flexibility Act

    I certify that this regulation will not have a significant economic 
impact on a substantial number of small entities. This regulation will 
affect Federal civilian employees and spouse beneficiaries who 
participate in the Thrift Savings Plan, which is a Federal defined 
contribution retirement savings plan created under the Federal 
Employees' Retirement System Act of 1986 (FERSA), Public Law 99-335, 
100 Stat. 514, and which is administered by the Agency.

Paperwork Reduction Act

    I certify that these regulations do not require additional 
reporting under the criteria of the Paperwork Reduction Act.

Unfunded Mandates Reform Act of 1995

    Pursuant to the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 602, 
632, 653, 1501-1571, the effects of this regulation on state, local, 
and tribal governments and the private sector have been assessed. This 
regulation will not compel the expenditure in any one year of $100 
million or more by state, local, and tribal governments, in the 
aggregate, or by the private sector. Therefore, a statement under 
section 1532 is not required.

Submission to Congress and the General Accounting Office

    Pursuant to 5 U.S.C. 810(a)(1)(A), the Agency submitted a report 
containing this rule and other required information to the U.S. Senate, 
the U.S. House of Representatives, and the Comptroller General of the 
United States before publication of this rule in the Federal Register. 
The rule is not a major rule as defined in 5 U.S.C. 804(2).

List of Subjects in 5 CFR Part 1651

    Claims, Government employees, Pensions, Retirement.

Gregory T. Long,
Executive Director, Federal Retirement Thrift Investment Board.

    For the reasons stated in the preamble, the Agency amends 5 CFR 
chapter VI as follows:

PART 1651--DEATH BENEFITS

0
1. The authority citation for part 1651 continues to read as follows:

    Authority:  5 U.S.C. 8424(d), 8432d, 8432(j), 8433(e), 
8435(c)(2), 8474(b)(5) and 8474(c)(1).


0
2. Amend Sec.  1651.3 by revising paragraph (c)(3) to read as follows:


Sec.  1651.3   Designation of beneficiary.

* * * * *
    (c) * * *
    (3) Be signed and properly dated by the participant and signed and 
properly dated by one witness;
    (i) The participant must either sign the form in the presence of 
the witness or acknowledge his or her signature on the form to the 
witness;
    (ii) All submitted and attached pages of the form must be signed 
and dated by the participant;
    (iii) All submitted and attached pages of the form must be signed 
and dated by the same witness;
* * * * *
[FR Doc. 2017-09153 Filed 5-4-17; 8:45 am]
 BILLING CODE 6760-01-P

21107

Rules and Regulations Federal Register
Vol. 82, No. 86

Friday, May 5, 2017

This section of the FEDERAL REGISTER Regulatory Flexibility Act Authority: 5 U.S.C. 8424(d), 8432d,
contains regulatory documents having general 8432(j), 8433(e), 8435(c)(2), 8474(b)(5) and
applicability and legal effect, most of which I certify that this regulation will not 8474(c)(1).
are keyed to and codified in the Code of have a significant economic impact on
Federal Regulations, which is published under a substantial number of small entities. ■ 2. Amend § 1651.3 by revising
50 titles pursuant to 44 U.S.C. 1510. This regulation will affect Federal paragraph (c)(3) to read as follows:
civilian employees and spouse § 1651.3 Designation of beneficiary.
The Code of Federal Regulations is sold by beneficiaries who participate in the
the Superintendent of Documents. * * * * *
Thrift Savings Plan, which is a Federal (c) * * *
defined contribution retirement savings (3) Be signed and properly dated by
FEDERAL RETIREMENT THRIFT plan created under the Federal the participant and signed and properly
INVESTMENT BOARD Employees’ Retirement System Act of dated by one witness;
1986 (FERSA), Public Law 99–335, 100 (i) The participant must either sign
5 CFR Part 1651 Stat. 514, and which is administered by the form in the presence of the witness
the Agency. or acknowledge his or her signature on
Designation of Beneficiary the form to the witness;
Paperwork Reduction Act
(ii) All submitted and attached pages
AGENCY: Federal Retirement Thrift I certify that these regulations do not of the form must be signed and dated by
Investment Board. require additional reporting under the the participant;
ACTION: Final rule. criteria of the Paperwork Reduction Act. (iii) All submitted and attached pages
of the form must be signed and dated by
Unfunded Mandates Reform Act of
SUMMARY: The Federal Retirement Thrift the same witness;
1995
Investment Board (Agency) is amending * * * * *
Pursuant to the Unfunded Mandates [FR Doc. 2017–09153 Filed 5–4–17; 8:45 am]
its death benefits regulations to modify
Reform Act of 1995, 2 U.S.C. 602, 632,
the requirements necessary in order for BILLING CODE 6760–01–P
653, 1501–1571, the effects of this
a designation of beneficiary form to be
regulation on state, local, and tribal
valid.
governments and the private sector have DEPARTMENT OF AGRICULTURE
DATES: This rule is effective May 15, been assessed. This regulation will not
2017. compel the expenditure in any one year National Institute of Food and
of $100 million or more by state, local, Agriculture
FOR FURTHER INFORMATION CONTACT: and tribal governments, in the aggregate,
Austen Townsend at (202) 864–8647. or by the private sector. Therefore, a 7 CFR Part 3430
SUPPLEMENTARY INFORMATION: The statement under section 1532 is not
RIN 0524–AA69
Agency administers the Thrift Savings required.
Plan (TSP), which was established by Submission to Congress and the Competitive and Noncompetitive Non-
the Federal Employees’ Retirement General Accounting Office formula Federal Assistance
System Act of 1986 (FERSA), Public Programs—General Award
Law 99–335, 100 Stat. 514. The TSP Pursuant to 5 U.S.C. 810(a)(1)(A), the Administrative Provisions and Specific
provisions of FERSA are codified, as Agency submitted a report containing Administrative Provisions
amended, largely at 5 U.S.C. 8351 and this rule and other required information
8401–79. The TSP is a tax-deferred to the U.S. Senate, the U.S. House of AGENCY: National Institute of Food and
retirement savings plan for Federal Representatives, and the Comptroller Agriculture, USDA.
civilian employees, members of the General of the United States before ACTION: Final rule with request for
uniformed services, and spouse publication of this rule in the Federal comments.
beneficiaries. The TSP is similar to cash Register. The rule is not a major rule as
SUMMARY: The National Institute of Food
or deferred arrangements established for defined in 5 U.S.C. 804(2).
and Agriculture (NIFA) is publishing as
private-sector employees under section List of Subjects in 5 CFR Part 1651 a final rule, a set of general and specific
401(k) of the Internal Revenue Code (26 administrative requirements applicable
U.S.C. 401(k)). Claims, Government employees,
Pensions, Retirement. to competitive and non-competitive
On March 30, 2017, the Agency non-formula programs. The purpose of
published a proposed rule with request Gregory T. Long, this final rule is to implement sections
for comments in the Federal Register Executive Director, Federal Retirement Thrift of the Agriculture Act of 2014 (Pub. L.
(82 FR 15642, March 30, 2017). The Investment Board. 113–79 or the 2014 Farm Bill), making
proposed rule amended 5 CFR 1651.3(c) For the reasons stated in the it necessary to add a new section for
jstallworth on DSK7TPTVN1PROD with RULES

to require that all pages of a TSP preamble, the Agency amends 5 CFR centers of excellence by modifying
beneficiary designation form be signed chapter VI as follows: Subparts A, B, C and D of the general
and dated by the participant and only administrative provisions. Although this
one witness. The Agency received no PART 1651—DEATH BENEFITS final rule becomes effective on the date
substantive comments and, therefore, is of publication, NIFA is requesting
publishing the proposed rule as final ■ 1. The authority citation for part 1651 comments for a 30-day period as
without change. continues to read as follows: identified below.

VerDate Sep<11>2014 14:00 May 04, 2017 Jkt 241001 PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 E:\FR\FM\05MYR1.SGM 05MYR1

Document Created: 2018-11-08 08:40:24
Document Modified: 2018-11-08 08:40:24

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Rules and Regulations
Action		Final rule.
Dates		This rule is effective May 15, 2017.
Contact		Austen Townsend at (202) 864-8647.
FR Citation		82 FR 21107
CFR Associated		Claims; Government Employees; Pensions and Retirement