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Congress including place limits towards the Tsp financing to stop the fresh dissipation out of advancing years savings
FERSA requires the Tsp to follow along with the inner Money Password provisions you to definitely affect individual industry senior years plan finance. 5 U.S.C. 8433(g)(3). Among other things, men and women arrangements set a maximum money number to possess fund, wanted continuing loan repayments, require the Tsp to help you costs notice to your Tsp money, and you may reduce period of time more and therefore that loan can be end up being paid. 1st, FERSA limited the causes whereby a loan would be taken; Congress removed so it purpose test into the 1996 in support of the current laws enabling a great general purpose loan. (más…)