123STA T . 1 85 5 PUBLIC LA W 111 – 31 —J U NE 22 , 2 0 0 9SEC.105 . R E PO R TING RE QU IRE M ENTS. (a)AN N UALREPORT.—TheBo a rds ha l l ,n o t later than Ju ne 30 o f ea c h y ear, su bmi tto C on g ress an annual re p ort on the operations of the Thrift S a v ings P lan. Such report shall include, for the prior calendar year, information on the number of partici - pants as of the last day of such prior calendar year, the median balance in participants ’ accounts as of such last day, demographic information on participants, the percentage allocation of amounts among investment funds or options, the status of the development and implementation of the mutual fund w indow, the diversity demo- graphics of any company, investment adviser, or other entity retained to invest and manage the assets of the Thrift Savings F und, and such other information as the Board considers appro- priate. A copy of each annual report under this subsection shall be made available to the public through an I nternet website. (b) REPORT I N G O F FEE S AN DO T H ER INFOR M ATION.— ( 1 ) IN GENERAL.—The Board shall include in the periodic statements provided to participants under section 84 3 9 (c) of title 5 , U nited States Code, the amount of the investment management fees, administrative e x penses, and any other fees or expenses paid with respect to each investment fund and option under the Thrift Savings Plan. Any such statement shall also provide a statement notifying participants as to how they may access the annual report described in subsection (a), as well as any other information concerning the Thrift Savings Plan that might be useful. ( 2 ) USE OF ESTIMATES.—For purposes of providing the information re q uired under this subsection, the Board may provide a reasonable and representative estimate of any fees or expenses described in paragraph (1) and shall indicate any such estimate as being such an estimate. Any such estimate shall be based on the previous year’s experience. (c) D EFINITIONS.—For purposes of this section— (1) the term ‘ ‘Board’’ has the meaning given such term by 8401(5) of title 5, United States Code
(2) the term ‘‘participant’’ has the meaning given such term by section 84 7 1(3) of title 5, United States Code; and (3) the term ‘‘account’’ means an account established under section 8439 of title 5, United States Code. SEC. 10 6 . A C K NO WL E D GMENT O F RISK. (a) IN G ENERAL.—Section 8439(d) of title 5, United States Code, is amended— (1) by stri k ing the matter after ‘‘who elects to invest in’’ and before ‘‘shall sign an acknowledgment’’ and inserting ‘‘any investment fund or option under this chapter, other than the Government Securities Investment Fund,’’; and (2) by striking ‘‘either such Fund’’ and inserting ‘‘any such fund or option’’. (b) COORDINATION W ITH PRO V ISIONS RELATING TO FIDU C IAR Y RESPONSI B ILITIES, L IABILITIES, AND PENALTIES.—Section 8477(e)(1)(C) of title 5, United States Code, is amended— (1) by redesignating subparagraph (C) as subparagraph (C)(i); and (2) by adding at the end the following
‘‘(ii) A fiduciary shall not be liable under subparagraph (A), and no civil action may be brought against a fiduciary— Notif i ca tio n.Publ ic info rm ation. We b p o s tin g . 5USC8439 note.
