5 CFR 1655.16 - Reamortization.

§ 1655.16 Reamortization.

(a) A participant may request reamortization of a loan at any time to change the amount of the payments, unless the loan is in a default status.

(b) Upon reamortization, the outstanding principal balance remains the same. Any accrued interest is paid off first before payments are applied to principal and current interest.

(c) The interest rate on a reamortized loan will be the same as the interest rate on the original loan.

(d) A participant may request reamortization by using the TSP Web site or by contacting a TSPSO participant service representative.

(e) When a participant's pay cycle changes for any reason, he or she should request a reamortization to adjust the scheduled payment to an equivalent amount in the new pay cycle. If the new pay cycle results in fewer payments per year and the participant does not reamortize the loan, the loan may be declared a taxable distribution pursuant to § 1655.15(a)(3).

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

Title 5 published on 07-Jun-2017 03:44

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 5 CFR Part 1655 after this date.

  • 2012-05-04; vol. 77 # 87 - Friday, May 4, 2012
    1. 77 FR 26417 - Roth Feature to the Thrift Savings Plan and Miscellaneous Uniformed Services Account Amendments
      GPO FDSys XML | Text
      Final rule.
      This rule is effective May 7, 2012.
      5 CFR Parts 1600, 1601, 1604, 1605, 1650, 1651, 1653, 1655, and 1690