Section 1650.13 - Installment payments(a) A participant can elect a distribution of all or a portion of the account balance in a series of substantially equal installment payments, to be paid on a monthly, quarterly, or annual basis in one of the following manners: (1)A specific dollar amount. The amount elected must be at least $25 per installment; if the amount elected is less than $25 per installment, the request will be rejected. Payments will be made in the amount requested each installment period.(2) An installment payment amount calculated based on life expectancy. Payments based on life expectancy are determined using the factors set forth in the Internal Revenue Service life expectancy tables codified at 26 CFR 1.401(a)(9)-9(b) and (c) . The installment payment amount is calculated by dividing the account balance by the factor from the IRS life expectancy tables based upon the participant's age as of his or her birthday in the year payments are to begin. This amount is then divided by the number of installment payments to be made per calendar year to yield the installment payment amount. In subsequent years, the installment payment amount is recalculated in January by dividing the prior December 31 account balance by the factor in the IRS life expectancy tables based upon the participant's age as of his or her birthday in the year payments will be made. There is no minimum amount for an installment payment calculated based on this method.(b) A participant can make the following changes at any time as described in § 1650.17(c) : (1) A participant receiving installment payments calculated based on life expectancy can elect to change to fixed dollar installment payments;(2) A participant receiving installment payments based on a fixed dollar amount can elect to stop these payments and make a new election to receive installment payments calculated based on life expectancy;(3) A participant receiving installment payments based on a fixed dollar amount can elect to change the amount of his or her fixed payments; and(4) A participant receiving fixed dollar installment payments can elect to change the frequency of his or her installment payments.(c) If a participant elects to receive installments pro rata from his or her traditional and Roth balances, installment payments will be made until the participant's entire account balance is expended, unless the participant elects to change or stop installment payments as described in in § 1650.17(c) . If a participant elects to receive installment payments from his or her traditional balance only or Roth balance only, installment payments will automatically continue from the non-elected balance once the elected balance has been expended, unless the participant elects to change or stop installment payments as described in § 1650.17(c) .(d) A participant receiving installment payments, regardless of the calculation method, can elect at any time to receive the remainder or part of his or her account balance in a single payment.(e) A participant may only have one installment payment series in place at a time.(f) A participant receiving installment payments may change the investment of his or her account balance among the TSP core funds and may invest through the mutual fund window as provided in 5 CFR part 1601.(g) Upon receiving information from an employing agency that a participant receiving installment payments is no longer separated, the TSP record keeper will cancel all pending and future installment payments. 84 FR 46420 , Sept. 4, 2019, as amended at 85 FR 57666 , Sept. 16, 2020; 85 FR 76420 , Nov. 30, 2020; 87 FR 31682 , May 24, 2022 84 FR 46420 , 9/15/2019; 85 FR 57666 , 9/16/2020; 85 FR 76420 , 1/11/2021; 87 FR 31672 , 6/1/2022