WASHINGTON, June 23 -- Federal Retirement Thrift Investment Board has issued a rule called: Method of Correcting Errors Involving Retired Lifecycle Funds.
The rule was published in the Federal Register on June 23 by Ravindra Deo, Executive Director, Federal Retirement Thrift Investment Board.
Summary: The Federal Retirement Thrift Investment Board (FRTIB) amends its regulation regarding the method for correcting errors involving Lifecycle Funds that no longer exist. Specifically, it reverts to the use of a constructed share price to calculate breakage and the value of negative adjustments for errors involving Lifecycle Funds that no longer exist as of June 1, 2022.
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