
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 5USC8479]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
            CHAPTER 84--FEDERAL EMPLOYEES' RETIREMENT SYSTEM
 
 SUBCHAPTER VII--FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM
 
Sec. 8479. Exculpatory provisions; insurance

    (a) Any provision in an agreement or instrument which purports to 
relieve a fiduciary from responsibility or liability for any 
responsibility, obligation, or duty under this subchapter shall be void.
    (b)(1) The Executive Director may require employing agencies to 
contribute an amount not to exceed 1 percent of the amount such agencies 
are required to contribute in accordance with section 8432(c) of this 
title to the Thrift Savings Fund.
    (2) The sums credited to the Thrift Savings Fund under paragraph (1) 
shall be available and may be used at the discretion of the Executive 
Director to purchase insurance to cover potential liability of persons 
who serve in a fiduciary capacity with respect to the Thrift Savings 
Fund, without regard to whether a policy of insurance permits recourse 
by the insurer against the fiduciary in the case of a breach of a 
fiduciary obligation.

(Added Pub. L. 99-335, title I, Sec. 101(a), June 6, 1986, 100 Stat. 
588.)

                  Section Referred to in Other Sections

    This section is referred to in section 8437 of this title.
