[Federal Register Volume 75, Number 11 (Tuesday, January 19, 2010)]
[Proposed Rules]
[Pages 2822-2823]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-769]
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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
5 CFR Part 1631
Availability of Records
AGENCY: Federal Retirement Thrift Investment Board.
ACTION: Proposed rule with request for comments.
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SUMMARY: The Federal Retirement Thrift Investment Board (Agency)
proposes to amend its regulations on availability of records to
establish the manner of service for administrative subpoenas issued by
the Agency and to delegate authority to the Agency's General Counsel to
issue administrative subpoenas. These changes implement section 107 of
the Thrift Savings Plan Enhancement Act of 2009, which gave the Agency
authority to issue subpoenas duces tecum in order to carry out the
Agency's functions.
DATES: Comments must be received on or before February 18, 2010.
ADDRESSES: You may submit comments using one of the following methods:
Federal Rulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Mail: Office of General Counsel, Attn: Thomas Emswiler,
Federal Retirement Thrift Investment Board, 1250 H Street, NW.,
Washington, DC 20005.
Hand Delivery/Courier: The address for sending comments by
hand delivery or courier is the same as that for submitting comments by
mail.
Facsimile: Comments may be submitted by facsimile at (202)
942-1676.
The most helpful comments explain the reason for any recommended
change and include data, information, and the authority that supports
the recommended change. We will post all substantive comments
(including any personal information provided) without change (with the
exception of redaction of SSNs, profanities, et cetera) on
www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: Laurissa Stokes at 202-942-1645.
SUPPLEMENTARY INFORMATION: The Agency administers the Thrift Savings
Plan (TSP), which was established by the Federal Employees' Retirement
System Act of 1986 (FERSA), Public Law 99-335, 100 Stat. 514. The TSP
provisions of FERSA are codified, as amended, largely at 5 U.S.C. 8351
and 8401-79. The TSP is a tax-deferred retirement savings plan for
Federal civilian employees and members of the uniformed services. The
TSP is similar to cash or deferred arrangements established for
private-sector employees under section 401(k) of the Internal Revenue
Code (26 U.S.C. 401(k)).
Issuance of Subpoenas
Section 107 of the Thrift Savings Plan Enhancement Act of 2009
(``the Act''), Public Law 111-31 (123 Stat. 1776, 1853) (codified at 5
U.S.C. 8480) authorizes the Agency to issue administrative subpoenas to
compel production of designated books, documents, records,
electronically stored information, or tangible things. This proposed
regulation would establish three means by which the Agency may serve an
administrative subpoena: (1) Certified or registered mail, return
receipt requested, (2) fax or electronic transmission, provided the
subpoenaed party gives prior approval, or (3) personal delivery at the
principal place of business or the last known residential address of
the subpoenaed party. This proposed regulation would also delegate
authority to the General Counsel to issue administrative subpoenas.
The Agency, like other financial institutions, has been the subject
of fraudulent withdrawals from its participants' accounts. The Agency
anticipates using its subpoena authority to obtain information
necessary to prevent or investigate fraudulent or otherwise improper
routing of participants' money to financial institutions. The Agency,
therefore, needs an expeditious means to obtain information from
financial institutions to which participants' money is transferred.
Prompt action and cooperation from financial institutions is the best
way to recover or deter fraudulent or improper routing of participants'
money.
Allowing the use of several alternative means to accomplish service
is intended to facilitate expeditious cooperation between the Agency
and financial institutions in an effort to prevent or investigate
fraudulent withdrawals and transfers. Delegation to the General Counsel
of the authority to issue administrative subpoenas is intended to
expedite the issuances of subpoenas,
[[Page 2823]]
e.g. by removing the need for the staff of the Office of General
Counsel to seek Executive Director approval for issuances that are
routine or urgent.
Regulatory Flexibility Act
I certify that this regulation will not have a significant economic
impact on a substantial number of small entities. This regulation will
affect Federal employees and members of the uniformed services who
participate in the Thrift Savings Plan, which is a Federal defined
contribution retirement savings plan created under the Federal
Employees' Retirement System Act of 1986 (FERSA), Public Law 99-335,
100 Stat. 514, and which is administered by the Agency. Although it
will also occasionally require financial institutions to provide
information, such entities rarely constitute small entities.
Additionally, this regulation provides the Agency with no new
authority; it merely provides guidance on existing statutory authority.
Paperwork Reduction Act
I certify that these regulations do not require additional
reporting under the criteria of the Paperwork Reduction Act.
Unfunded Mandates Reform Act of 1995
Pursuant to the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 602,
632, 653, 1501-1571, the effects of this regulation on state, local,
and tribal governments and the private sector have been assessed. This
regulation will not compel the expenditure in any one year of $100
million or more by state, local, and tribal governments, in the
aggregate, or by the private sector. Therefore, a statement under
section 1532 is not required.
Submission to Congress and the General Accounting Office
Pursuant to 5 U.S.C. 810(a)(1)(A), the Agency submitted a report
containing this rule and other required information to the U.S. Senate,
the U.S. House of Representatives, and the Comptroller General of the
United States before publication of this rule in the Federal Register.
This rule is not a major rule as defined at 5 U.S.C. 804(2).
List of Subjects in 5 CFR Part 1631
Government employees, Courts, Freedom of information.
Gregory T. Long,
Executive Director, Federal Retirement Thrift Investment Board.
For the reasons stated in the preamble, the Agency proposes to
amend 5 CFR chapter VI as follows:
PART 1631--AVAILABILITY OF RECORDS
1. Remove the existing authority citation for part 1631.
Subpart A--[Amended]
2. Add an authority citation to subpart A of part 1631 to read as
follows:
Authority: 5 U.S.C. 552.
Subpart B--[Amended]
3. Add an authority citation to subpart B of part 1631 to read as
follows:
Authority: 5 U.S.C. 552.
4. Add subpart C to subpart 1631 to read as follows:
Subpart C--Administrative Subpoenas
Sec.
1631.40 Subpoena authority.
1631.41 Production of records.
1631.42 Service.
1631.43 Enforcement.
Subpart C--Administrative Subpoenas
Authority: 5 U.S.C. 8480.
Sec. 1631.40 Subpoena authority.
The Executive Director or General Counsel may issue subpoenas
pursuant to 5 U.S.C. 8480. The General Counsel may delegate this
authority to a Deputy General Counsel, Associate General Counsel, or
Assistant General Counsel.
Sec. 1631.41 Production of records.
A subpoena may require the production of designated books,
documents, records, electronically stored information, or tangible
materials in the possession or control of the subpoenaed party when the
individual signing the subpoena has determined that production is
necessary to carry out any of the Agency's functions.
Sec. 1631.42 Service.
(a) Return of service. Each subpoena shall be accompanied by a
Return of Service certificate stating the date and manner of service
and the names of the persons served.
(b) Methods of service. Subpoenas shall be served by one of the
following methods:
(1) Certified or registered mail, return receipt requested to the
principal place of business or the last known residential address of
the subpoenaed party.
(2) Fax or electronic transmission to the subpoenaed party or the
subpoenaed party's counsel, provided the subpoenaed party gives prior
approval.
(3) Personal delivery at the principal place of business or
residence of the subpoenaed party during normal business hours.
Sec. 1631.43 Enforcement.
Upon the failure of any party to comply with a subpoena, the
General Counsel shall request that the Attorney General seek
enforcement of the subpoena in the appropriate United States district
court.
[FR Doc. 2010-769 Filed 1-15-10; 8:45 am]
BILLING CODE 6760-01-P