
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 5USC8440b]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
            CHAPTER 84--FEDERAL EMPLOYEES' RETIREMENT SYSTEM
 
                   SUBCHAPTER III--THRIFT SAVINGS PLAN
 
Sec. 8440b. Bankruptcy judges and magistrate judges

    (a)(1) A bankruptcy judge or magistrate judge who is covered by 
section 377 of title 28 or section 2(c) of the Retirement and Survivors' 
Annuities for Bankruptcy Judges and Magistrates Act of 1988 may elect to 
contribute an amount of such individual's basic pay to the Thrift 
Savings Fund.
    (2) An election may be made under paragraph (1) only during a period 
provided under section 8432(b) for individuals subject to this chapter.
    (b)(1) Except as otherwise provided in this subsection, the 
provisions of this subchapter and subchapter VII shall apply with 
respect to bankruptcy judges and magistrate judges who make 
contributions to the Thrift Savings Fund under subsection (a) of this 
section.
    (2) The amount contributed by a bankruptcy judge or magistrate judge 
for any pay period shall not exceed the maximum percentage of such 
bankruptcy judge's or magistrate's \1\ basic pay for such pay period 
allowable under section 8440f.
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    \1\ So in original. Probably should be ``magistrate judge's''.
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    (3) No contributions shall be made under section 8432(c) of this 
title for the benefit of a bankruptcy judge or magistrate judge making 
contributions under subsection (a) of this section.
    (4)(A) Section 8433(b) of this title applies to a bankruptcy judge 
or magistrate judge who elects to make contributions to the Thrift 
Savings Fund under subsection (a) of this section and who retires 
entitled to an immediate annuity under section 377 of title 28 
(including a disability annuity under subsection (d) of such section) or 
section 2(c) of the Retirement and Survivors' Annuities for Bankruptcy 
Judges and Magistrates Act of 1988.
    (B) Section 8433(b) of this title applies to any bankruptcy judge or 
magistrate \2\ who elects to make contributions to the Thrift Savings 
Fund under subsection (a) of this section and who retires before 
attaining age 65 but is entitled, upon attaining age 65, to an annuity 
under section 377 of title 28 or section 2(c) of the Retirement and 
Survivors Annuities for Bankruptcy Judges and Magistrates Act of 1988.
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    \2\ So in original. Probably should be ``magistrate judge''.
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    (C) Section 8433(b) of this title applies to any bankruptcy judge or 
magistrate judge who elects to make contributions to the Thrift Savings 
Fund under subsection (a) of this section and who retires before 
becoming entitled to an immediate annuity, or an annuity upon attaining 
age 65, under section 377 of title 28 or section 2(c) of the Retirement 
and Survivors' Annuities for Bankruptcy Judges and Magistrates Act of 
1988.
    (5) With respect to bankruptcy judges and magistrate judges to whom 
this section applies, any of the actions described under paragraph 
(4)(A), (B), or (C) shall be considered a separation from service for 
purposes of this subchapter and subchapter VII.
    (6) For purposes of this section, the terms ``retirement'' and 
``retire'' include removal from office under section 377(d) of title 28 
on the sole ground of mental or physical disability.
    (7) In the case of a bankruptcy judge or magistrate judge who 
receives a distribution from the Thrift Savings Plan and who later 
receives an annuity under section 377 of title 28, that annuity shall be 
offset by an amount equal to the amount of the distribution which 
represents the Government's contribution to that person's Thrift Savings 
Account, without regard to earnings attributable to that amount. Where 
such an offset would exceed 50 percent of the annuity to be received in 
the first year, the offset may be divided equally over the first 2 years 
in which that person receives the annuity.
    (8) Notwithstanding paragraph (4), if any bankruptcy judge or 
magistrate \2\ retires under circumstances making such bankruptcy judge 
or magistrate \2\ eligible to make an election under subsection (b) of 
section 8433, and such bankruptcy judge's or magistrate judge's 
nonforfeitable account balance is less than an amount that the Executive 
Director prescribes by regulation, the Executive Director shall pay the 
nonforfeitable account balance to the participant in a single payment.

(Added Pub. L. 100-659, Sec. 7(a), Nov. 15, 1988, 102 Stat. 3919, 
Sec. 8440a; renumbered Sec. 8440b and amended Pub. L. 101-335, 
Secs. 3(b)(3), 6(b)(3), 9(a), July 17, 1990, 104 Stat. 320, 324, 326; 
Pub. L. 101-650, title III, Sec. 321, Dec. 1, 1990, 104 Stat. 5117; Pub. 
L. 103-226, Sec. 9(f), Mar. 30, 1994, 108 Stat. 120; Pub. L. 104-208, 
div. A, title I, Sec. 101(f) [title VI, Sec. 659 [title II, 
Sec. 205(b)]], Sept. 30, 1996, 110 Stat. 3009-314, 3009-372, 3009-377; 
Pub. L. 106-554, Sec. 1(a)(4) [div. B, title I, Sec. 138(a)(3)], Dec. 
21, 2000, 114 Stat. 2763, 2763A-233.)

                       References in Text

    Section 2(c) of the Retirement and Survivors' Annuities for 
Bankruptcy Judges and Magistrates Act of 1988, referred to in subsecs. 
(a)(1) and (b)(4), is section 2(c) of Pub. L. 100-659, which is set out 
as a note under section 377 of Title 28, Judiciary and Judicial 
Procedure.

                          Codification

    Another section 8440b was renumbered section 8440c of this title.


                               Amendments

    2000--Subsec. (b)(2). Pub. L. 106-554 substituted ``the maximum 
percentage of such bankruptcy judge's or magistrate's basic pay for such 
pay period allowable under section 8440f.'' for ``5 percent of basic pay 
for such pay period.''
    1996--Subsec. (b)(7). Pub. L. 104-208, Sec. 101(f) [title VI, 
Sec. 659 [title II, Sec. 205(b)(1)]], inserted ``of the distribution'' 
after ``equal to the amount'' in first sentence.
    Subsec. (b)(8). Pub. L. 104-208, Sec. 101(f) [title VI, Sec. 659 
[title II, Sec. 205(b)(2)(A)]], substituted ``less than an amount that 
the Executive Director prescribes by regulation'' for ``$3,500 or 
less''.
    Pub. L. 104-208, Sec. 101(f) [title VI, Sec. 659 [title II, 
Sec. 205(b)(2)(B)]], which directed that par. (8) be amended by striking 
out ``unless the bankruptcy judge or magistrate elects, at such time and 
otherwise in such manner as the Executive Director prescribes, one of 
the options available under subsection (b)'', was executed by striking 
out ``unless the bankruptcy judge or magistrate elects, at such time and 
otherwise in such manner as the Executive Director prescribes, one of 
the options available under such subsection (b)'' before period at end, 
to reflect the probable intent of Congress.
    1994--Subsec. (b)(4)(B). Pub. L. 103-226, Sec. 9(f)(1), amended 
subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: 
``Section 8433(c) of this title applies to any bankruptcy judge or 
magistrate who elects to make contributions to the Thrift Savings Fund 
under subsection (a) of this section and who retires before attaining 
age 65 but is entitled, upon attaining age 65, to an annuity under 
section 377 of title 28 or section 2(c) of the Retirement and Survivors' 
Annuities for Bankruptcy Judges and Magistrates Act of 1988; except that 
the period described in paragraph (3) of section 8433(c) commences on or 
after the date on which payment of the bankruptcy judge's or 
magistrate's annuity under section 377 of title 28 commences.''
    Subsec. (b)(4)(C). Pub. L. 103-226, Sec. 9(f)(2), substituted 
``Section 8433(b)'' for ``Section 8433(d)''.
    Subsec. (b)(5). Pub. L. 103-226, Sec. 9(f)(3), substituted ``any of 
the actions described under paragraph (4)(A), (B), or (C) shall be 
considered'' for ``retirement under section 377 of title 28 is''.
    Subsec. (b)(8). Pub. L. 103-226, Sec. 9(f)(5)(B), which directed 
striking out ``and (c), as applicable'', was executed by striking out 
``or (c), as applicable'' before period at end to reflect the probable 
intent of Congress.
    Pub. L. 103-226, Sec. 9(f)(5)(A), substituted ``Notwithstanding 
paragraph (4), if any bankruptcy judge or magistrate retires under 
circumstances making such bankruptcy judge or magistrate eligible to 
make an election under subsection (b)'' for ``Notwithstanding 
subparagraphs (A) and (B) of paragraph (4), if any bankruptcy judge or 
magistrate retires under circumstances making such bankruptcy judge or 
magistrate eligible to make an election under subsection (b) or (c)''.
    Pub. L. 103-226, Sec. 9(f)(4), redesignated par. (9) as (8) and 
struck out former par. (8) which read as follows: ``Notwithstanding 
paragraph (4)(C), if any bankruptcy judge or magistrate who elects to 
make contributions to the Thrift Savings Fund under subsection (a) 
retires before becoming entitled to an immediate annuity, or an annuity 
upon attaining age 65, under section 377 of title 28 or section 2(c) of 
the Retirement and Survivors' Annuities for Bankruptcy Judges and 
Magistrates Act of 1988, and such bankruptcy judge's or magistrate's 
nonforfeitable account balance is $3,500 or less, the Executive Director 
shall pay the nonforfeitable account balance to the participant in a 
single payment unless the bankruptcy judge or magistrate elects, at such 
time and otherwise in such manner as the Executive Director prescribes, 
to have the nonforfeitable account balance transferred to an eligible 
retirement plan as provided in section 8433(e).''
    Subsec. (b)(9). Pub. L. 103-226, Sec. 9(f)(4), redesignated par. (9) 
as (8).
    1990--Pub. L. 101-335, Sec. 9(a), renumbered section 8440a of this 
title as this section.
    Subsec. (b)(7). Pub. L. 101-335, Sec. 3(b)(3), redesignated par. (8) 
as (7) and struck out former par. (7) which read as follows: ``Sums 
contributed pursuant to this section by bankruptcy judges or 
magistrates, as well as all previous contributions to the Thrift Savings 
Fund by those bankruptcy judges and magistrates, and earnings 
attributable to such sums and contributions, may be invested and 
reinvested only in the Government Securities Investment Fund established 
under section 8438(b)(1)(A) of this title.''
    Subsec. (b)(8), (9). Pub. L. 101-335, Sec. 6(b)(3), added pars. (8) 
and (9). Former par. (8) redesignated (7).

                         Change of Name

    Words ``magistrate judge'', ``magistrate judges'', and ``magistrate 
judge's'' substituted for ``magistrate'', ``magistrates'', and 
``magistrate's'', respectively, in section catchline and in subsecs. 
(a)(1) and (b)(1)-(3), (4)(A), (C), (5), (7), and (8), pursuant to 
section 321 of Pub. L. 101-650, set out as a note under section 631 of 
Title 28, Judiciary and Judicial Procedure.


                    Effective Date of 1996 Amendment

    Amendment by Pub. L. 104-208 effective Sept. 30, 1996, and 
withdrawals and elections as provided under such amendment to be made at 
earliest practicable date as determined by Executive Director in 
regulations, see section 101(f) [title VI, Sec. 659 [title II, 
Sec. 207]] of Pub. L. 104-208, set out as a note under section 5545a of 
this title.


                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-226 effective Mar. 10, 1995, see section 
9(j) of Pub. L. 103-226, set out as a note under section 8351 of this 
title.


                    Effective Date of 1990 Amendment

    Amendment by section 3(b)(3) of Pub. L. 101-335 effective as of 
second election period described in section 8432(b) of this title 
beginning after July 17, 1990, or as of such earlier date as Executive 
Director may by regulation prescribe, see section 3(c) of Pub. L. 101-
335, set out as a note under section 8351 of this title.
    Amendment by section 6(b)(3) of Pub. L. 101-335 effective as of 
second election period described in section 8432(b) of this title 
beginning after July 17, 1990, or such earlier date as Executive 
Director may by regulation prescribe, and applicable with respect to 
separations occurring before, on, or after that effective date, see 
section 6(c) of Pub. L. 101-335, set out as a note under section 8351 of 
this title.


                             Effective Date

    Section effective Nov. 15, 1988, and applicable to bankruptcy judges 
and magistrate judges who retire on or after Nov. 15, 1988, with 
exception for judges and magistrate judges retiring on or after July 31, 
1987, see section 9 of Pub. L. 100-659, as amended, set out as a note 
under section 377 of Title 28, Judiciary and Judicial Procedure.

                  Section Referred to in Other Sections

    This section is referred to in section 8432 of this title.
