The US retirement board will now track gains and losses on tiny late payments

The Federal Retirement Thrift Investment Board will now calculate investment gains and losses on late or makeup payments, even if the amount is less than one dollar. This means that even very small discrepancies in retirement contributions will be accurately accounted for, affecting both employees and agencies.

Previously, if a late or makeup payment to the Thrift Savings Plan was under a dollar, the system would not bother calculating the investment gains or losses on that amount. This meant that small errors or delays could accumulate, creating minor accounting headaches for agencies and potentially shortchanging individual retirement accounts. Now, every penny will be tracked, which simplifies reconciliation and ensures full accuracy for all participants.