---
kind: "section"
citation: "5 C.F.R. § 1645.3"
title: "5"
number: "1645.3"
heading: "Calculation of total net earnings for each TSP core fund."
url: "https://uscodex.org/cfr/5/1645.3"
---

# §1645.3. Calculation of total net earnings for each TSP core fund.

- (a) Each business day, net earnings will be calculated separately for each TSP core fund.
- (b) Net earnings for each fund will equal:
  - (1) **The sum of the following items, if any, accrued since the last business day—**
    - (i) Interest on money of that fund which is invested in the Government Securities Investment Fund;
    - (ii) Interest on other short-term investments of the fund;
    - (iii) Other income (such as dividends, interest, or securities lending income) on investments of the fund; and
    - (iv) **Capital gains or losses on investments of the fund, net of transaction costs.**
  - (2) Minus the accrued administrative expenses of the fund, determined in accordance with [§ 1645.4](/cfr/5/1645.4.md).
- (c) The net earnings for each TSP core fund determined in accordance with [paragraph (b)](#b) of this section will be added to the residual net earnings for that fund from the previous business day, as described in [§ 1645.5(b)](/cfr/5/1645.5.md?p=b), to produce the total net earnings. The total net earnings will be used to calculate the share price for that business day.

## Notes

### Amendments

[70 FR 32214, June 1, 2005, as amended at 87 FR 31681, May 24, 2022]

### Authority

Authority: 5 U.S.C. 8439(a)(3) and 8474.

### Source

Source: 68 FR 35502, June 13, 2003, unless otherwise noted.

### Amendments

[70 FR 32214, June 1, 2005, as amended at 87 FR 31681, May 24, 2022]