Rule Would Create Deadline for Beneficiary Forms

Thrift Savings Plan beneficiary designation forms would only be valid if received by the TSP record keeper within a year after the date of the participant’s signature, the Federal Retirement Thrift Investment Board said in a proposed rule scheduled for publication in the Sept. 20 Federal Register.

The proposed rule is necessary, the board said, because the employing federal agencies of TSP participants “continue to forward to the TSP record-keeper beneficiary designation forms that are sometimes decades old” even though agencies have been required since January 1995 to immediately forward all beneficiary designation forms to the TSP record keeper.

Prior ...