Source: https://www.chanrobles.com/usa/uslaws/cfr/title05/5-3.0.4.5.3.php
Timestamp: 2020-07-04 05:47:40
Document Index: 323466624

Matched Legal Cases: ['ART 1603', 'ART 1603', 'ART 1603', '§ 1603', '§ 1603', '§ 1603', '§1603', '§1603']

5 C.F.R. PART 1603—VESTING
United States> Code of Federal Regulations> Title 5 - Administrative Personnel> CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD> PART 1603--VESTING> PART 1603—VESTING
§ 1603.1 Definitions.
§ 1603.2 Basic vesting rules.
§ 1603.3 Service requirements.
[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:
[52 FR 29835, Aug. 12, 1987, as amended at 60 FR 24535, May 9, 1995; 62 FR 33969, June 23, 1997]