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37 U.S.C. § 211 - U.S. Code - Unannotated Title 37. Pay and Allowances of the Uniformed Services § 211. Participation in Thrift Savings Plan

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Definition.--In this section, the term “member” means--

(1) a member of the uniformed services serving on active duty; and

(2) a member of the Ready Reserve in any pay status.

(b) Authority.--Any member may participate in the Thrift Savings Plan in accordance with section 8440e of title 5.

(c) Rule of construction regarding separation.--For purposes of subchapters III and VII of chapter 84 of title 5, each of the following actions shall, in the case of a member participating in the Thrift Savings Plan in accordance with section 8440e of such title, be considered a separation from Government employment:

(1) Release of the member from active duty, not followed, before the end of the 31-day period beginning on the day following the effective date of the release, by--

(A) a resumption of active duty; or

(B) an appointment to a position covered by chapter 83 or 84 of title 5 or an equivalent retirement system, as identified by the Executive Director (appointed by the Federal Retirement Thrift Investment Board) in regulations.

(2) Transfer of the member to inactive status, or to a retired list pursuant to any provision of title 10.

(d) Repayment of amounts borrowed from member account.--If a loan is issued to a member under section 8433(g) of title 5 from funds in the member's account in the Thrift Savings Plan, repayment of the loan may be required on the same semi-monthly basis as authorized for contributions to the Thrift Savings Fund on behalf of the member under section 1014(c) of this title.

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Cite this article: FindLaw.com - 37 U.S.C. § 211 - U.S. Code - Unannotated Title 37. Pay and Allowances of the Uniformed Services § 211. Participation in Thrift Savings Plan - last updated January 01, 2024 | https://codes.findlaw.com/us/title-37-pay-and-allowances-of-the-uniformed-services/37-usc-sect-211/

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