(a) Definition.—In this section, the term “member” means—

(1) a member of the uniformed services serving on active duty; and

(2) a member of the Ready Reserve in any pay status.

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(b) Authority.—Any member may participate in the Thrift Savings Plan in accordance with section 8440e of title 5.

(c) Rule of Construction Regarding Separation.—For purposes of subchapters III and VII of chapter 84 of title 5, each of the following actions shall, in the case of a member participating in the Thrift Savings Plan in accordance with section 8440e of such title, be considered a separation from Government employment:

(1) Release of the member from active duty, not followed, before the end of the 31-day period beginning on the day following the effective date of the release, by—

(A) a resumption of active duty; or

(B) an appointment to a position covered by chapter 83 or 84 of title 5 or an equivalent retirement system, as identified by the Executive Director (appointed by the Federal Retirement Thrift Investment Board) in regulations.

(2) Transfer of the member to inactive status, or to a retired list pursuant to any provision of title 10.

(d) Repayment of Amounts Borrowed From Member Account.—If a loan is issued to a member under section 8433(g) of title 5 from funds in the member’s account in the Thrift Savings Plan, repayment of the loan may be required on the same semi-monthly basis as authorized for contributions to the Thrift Savings Fund on behalf of the member under section 1014(c) of this title.