WASHINGTON, April 18 -- Federal Retirement Thrift Investment Board has issued a proposed rule called: Procedures for Applying Payments to Principal and Interest Upon Loan Reamortization.
The proposed rule was published in the Federal Register on April 18 by Ravindra Deo, Executive Director, Federal Retirement Thrift Investment Board.
Summary: The Federal Retirement Thrift Investment Board (FRTIB) proposes to amend a loan reamorization rule that requires payment of all accrued interest prior to allowing payments on the principal and current interest. Under the proposed rule, the Thrift Savings Plan (TSP) record keeper would combine the accrued interest with the outstanding principal when reamortizing a loan.
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