As used in this Subpart:

Board means the Federal Retirement Thrift Investment Board, established pursuant to 5 U.S.C. 8472;

C Fund means the Common Stock Index Investment Fund established under 5 U.S.C. 8438(b)(1)(C);

Executive Director means the Executive Director of the Board described in 5 U.S.C. 8474;

F Fund means the Fixed Income Investment Fund established under 5 U.S.C. 8438(b)(1)(B);

G Fund means the Government Securities Investment Fund established under 5 U.S.C. 8438(b)(1)(A);

Individual account means the account established for a participant in the Thrift Savings Plan under 5 U.S.C. 8439(a);

Investment fund means either the G Fund, the F Fund, or the C Fund, or any other Thrift Savings Plan investment fund created after June 24, 1997;

Open season means the period during which participants may choose to begin making contributions to the Thrift Savings Plan, to change or discontinue the amount they are currently contributing to the Thrift Savings Plan (without losing the right to recommence contributions the next open season), or to allocate prospective contributions to the Thrift Savings Plan among the investment funds;

Participant means any person with an individual account in the Thrift Savings Plan, or who would have an account in the Thrift Savings Plan but for an employing agency error;

Record keeper means the entity that is engaged by the Board to perform record keeping services for the Thrift Savings Plan. As of June 24, 1997, the record keeper is the National Finance Center, Office of the Chief Financial Officer, United States Department of Agriculture, located in New Orleans, Louisiana.

Source of contributions means either agency automatic (1%) contributions under 5 U.S.C. 8432(c)(1) or 8432(c)(3), agency matching contributions under 5 U.S.C. 8432(c)(2), or employee contributions under 5 U.S.C. 8351, or 8440(a) through 8440d;

Thrift Savings Plan means the Federal Retirement Thrift Savings Plan established by the Federal Employees’ Retirement System Act of 1986 (FERSA), Public Law 99-335, 100 Stat. 514, which has been codified, as amended, largely at 5 U.S.C. 8401-8479.

The Executive Director will provide the information prescribed in §§ 1640.3 and 1640.5 at least once every six months, and not later than thirty (30) days before the last month of an open season.

The Executive Director will furnish each participant with the following information concerning that participant's individual account:

(a) Name and social security number under which the account is established;

(b) Beginning and ending dates of the period covered by the statement;

(c) As of the opening of business on the beginning date and the close of business on the ending date of the period covered by the statement:

(1) The balance of the account;

(2) The amounts of contributions and earnings in the C Fund, the F Fund, and the G Fund, by source of contribution;

(d) All transactions made in accordance with § 1640.4 and affecting the individual account which occurred during the period covered by the statement;

(e) Any other information that the Executive Director determines should be in the statement.

(a) Where relevant, the following transactions will be reported in each individual account statement:

(1) Contributions;

(2) Earnings posted;

(3) Withdrawals;

(4) Forfeitures;

(5) Loan Activity;

(6) Transfers among investment funds;

(7) Adjustments to prior transactions; and

(8) Any other transaction that the Executive Director deems will affect the status of the individual account.

(b) Where relevant, the statement will contain the following information concerning each transaction identified in paragraph (a) of this section:

(1) Type of transaction;

(2) Pay date of the pay period in which the transaction was reflected in the participant's salary payment;

(3) Investment funds affected;

(4) Date the transaction was processed;

(5) Source of the contribution;

(6) Amount of the transaction; and

(7) Any other information the Executive Director deems relevant.

For each open season, the Executive Director will furnish each participant with a statement concerning each of the investment funds. This statement will contain the following information concerning each investment fund:

(a) A summary description of the type of investments to be made by the fund, written in a manner that will allow the participant to make an informed decision; and

(b) The performance history of the type of investments to be made by the fund, covering the five-year period preceding the date of the evaluation.

(a) Individual account statement. The information concerning each participant's individual account described in §§ 1640.3 and 1640.4 will be sent to the participant at the participant's last known address, by first class mail. It is the participant's responsibility to provide his or her current address to his or her agency or, in the case of a separated employee, to the record keeper.

(b) Investment information. The investment information described in § 1640.5 will be furnished to each participant either:

(1) By mailing the information to the participant by the method described in paragraph (a) of this section; or

(2) By including that information in material published by the Board and distributed in a manner reasonably designed to reach the participant. This includes distributing the material through the participant's agency or, in the case of a separated employee, through the record keeper.