§1655.6. Amount of loan.
5 C.F.R. § 1655.6
Minimum amount. The initial principal amount of any loan may not be less than $1,000.
Maximum amount. The principal amount of a new loan must be less than or equal to the smallest of the following:
The portion of the participant's individual account balance that is attributable to employee contributions and attributable earnings (not including any outstanding loan principal);
50 percent of the participant's vested account balance that is attributable to employee contributions and attributable earnings (including any outstanding loan balance) or $10,000, whichever is greater, minus any outstanding loan balance; or
$50,000 minus the participant's highest outstanding loan balance (if any) during the last 12 months.
If a participant has both a civilian TSP account and a uniformed services TSP account, the maximum loan amount available will be based on a calculation that takes into consideration the account balances and outstanding loan balances for both accounts.
Any amount invested through the mutual fund window at the time the participant makes a loan request will not be considered for purposes of determining either the minimum or maximum loan amounts.
Notes, amendments, and revision history
Amendments
[68 FR 35515, June 13, 2003, as amended at 87 FR 31692, May 24, 2022]
Authority
Authority: 5 U.S.C. 8432d, 8433(g), 8439(a)(3) and 8474.
Source
Source: 68 FR 35515, June 13, 2003, unless otherwise noted.
Amendments
[68 FR 35515, June 13, 2003, as amended at 87 FR 31692, May 24, 2022]