AGENCY PAYMENTS TO FINANCE INSURANCE COSTS OF THE FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP89-00066R000800130012-0
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 3
• Document Creation Date: December 27, 2016
• Document Release Date: December 12, 2012
• Sequence Number: 12
• Publication Date: February 5, 1988
• Content Type: MEMO

Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0
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FEDERAL RETIREMENT
THRIFT INVESTMENT BOARD
805 Fifteenth Street, N.W. i
Washington, D.C. 20005
February 5, 1988
P1EIIORANDUII F R HEADS RTMENTS AN AGENCIES
FROM: RAt~ JC I S X . CA IAUGH
EXECUTIVE DIRECTOR
SUBJECT: Agency Payments to Finance Insurance Costs of
the Federal Retirement Thrift Investment Board
I am pleased to advise you that, as a result of legislation
enacted January 8, 1988 (PL 100-238), it will no longer be
necessary for agencies to make payments to finance the
fiduciary liability insurance costs of the Federal Retirement
Thrift Investment Board (the Board). Such payments have been
made in the form of assessments on the agencies equal to one
percent of their employer contributions to the Thrift Savings
Plan (TSP).
Public Law 100-238 amends the Federal Employees' Retirement
System Act of 1986 (PL 99-335) to provide an alternative
source of funding expenses connected with lawsuits against
fiduciaries.
Technical instructions in TSP Bulletin form are currently
being issued to agency payroll offices for the immediate
discontinuation of the agency payments to the Board. These
instructions will supplant the procedures for collecting the
payments outlined in my December 24, 1986 memorandum and TSP
Bulletin 87-12.
We are currently working with the insurance industry to
assess our remaining insurance needs. Then we will determine
the procedures and legislative changes necessary for disposing
of excess insurance reserves.
We appreciate your continuing support of the Thrift Savings
Plan.
Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0
 Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0 - -
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= Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0
 Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0
STAT
Declassified in Part - Sanitized Copy Approved for Release 2012/12/12 : CIA-RDP89-00066R000800130012-0