WASHINGTON, May 12 -- Federal Retirement Thrift Investment Board has issued a proposed rule called: Curing Missed Loan Payments.
The proposed rule was published in the Federal Register on May 12 by Ravindra Deo, Executive Director, Federal Retirement Thrift Investment Board.
Summary: The Federal Retirement Thrift Investment Board (FRTIB) proposes to update its regulations regarding the methods available to participants to cure missed loan payments. The proposed change will also clarify the number of missed payments which must be brought back into compliance by the last day of the quarter following the quarter in which the payment was missed to avoid triggering a deemed distribution.
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