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nominated as chairman), one member is appointed after considering the recommendation of the
Speaker of the House (in consultation with the House Minority Leader) and the fifth member is appointed after considering the recommendation of the Senate Majority Leader (in consultation with the Senate Minority Leader). Each of these persons is required by FERSA to have "substantial experience, training, and expertise in the management of financial investments and pension benefit plans." 5 U.S.C. 8472(d). The board members collectively establish the policies under which the TSP operates and furnish general oversight. The executive director carries out the policies established by the board members and otherwise acts as the full-time chief executive of the agency. The board and the executive director convene monthly in meetings open to the public to review policies, practices, and performance.
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Atkins to another term in 1997, and to a third term via a recess appointment in 2000. He was succeeded by Andrew Saul, who named Gary Amelio executive director in 2002, replacing Mehle. The current executive director is
Ravindra Deo, who succeeded Gregory Long in 2017. Ravindra Deo joined the FRTIB in 2015 as the Chief Investment Officer and additionally served as Acting Chief Operating Officer and Acting Executive Director during his tenure.
24:
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The first chairman of the board was Roger W. Mehle, who was appointed on
October 1, 1986. In 1988 he was reappointed and served continuously until January 31, 1994. President Clinton appointed James H. Atkins to replace him, and the board named Mehle the agency's executive director. Clinton named
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The
Federal Retirement Thrift Investment Board has been criticized for a 2017 decision to mirror an index that invests in unaudited Chinese companies as well as companies that are sanctioned by the U.S. Despite scrutiny from the U.S. Senate, Board voted to permit continued investment in an index
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The two members appointed in consultation with the majority and minority leaders of each chamber of
Congress are appointed to terms of three years. The remaining three members are appointed to terms of two years. The members may however serve until their successor has taken office, so the actual
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Governance of the agency is carried out by a five-person, part-time board of presidential appointees and by a full-time executive director selected by those appointees. Of the five appointees, three members are appointed solely by the
President without other consideration (of whom one shall be
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to provide input from the various employee, servicemember, and annuitant groups who have TSP investments, of which one is designated by the chairman as the council head. The 15-member board is made up of the following:
161:, and is the largest defined contribution plan in the world. As of August 2021, the board manages $ 794.7 billion in assets on behalf of 6.4 million participants. The board members and its chairman are nominated by the
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ordered the TSP to halt a plan to invest in
Chinese stocks. In 2022, a coalition was formed to push for the removal of emerging-market funds that contain companies linked to the
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introduced legislation, the
Taxpayers and Savers Protection Act, to force the Board to divest from unaudited Chinese companies. In May 2020, a directive from the
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In
November 2023, the Federal Retirement Thrift Investment Board switched the index for its international fund to one that excludes investments in companies in
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Since July 2022, federal employees have the option of investing in mutual funds that have holdings in sanctioned
Chinese companies.
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One member representing the largest group representing supervisors and managerial personnel, excluding Senior Executive Service
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by the Federal Employees Retirement System Act of 1986. It has roughly 270 employees. It was established to administer the
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Two members, one each representing the two largest Postal employee unions, excluding rural letter carrier unions
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containing stocks of unaudited companies in the People's Republic of China. In November 2019, U.S. senators
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employees and members of the uniformed services, including the Ready Reserve. The Thrift Savings Plan is a
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Two members, one each representing the two largest groups representing Postal managerial personnel
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605:"Sen. Marco Rubio wants to make sure federal worker retirement dollars are not invested in China"
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One member representing the largest Postal employee union representing rural letter carriers
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terms the members serve can be far longer. The term of the chairman is four years.
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572:"Lawmakers, observers denounce moving TSP fund to China-inclusive index in 2020"
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Four members, one each representing the four largest non-Postal employee unions
770:"U.S. Generals, Diplomats Want Chinese Companies Out of Their Retirement Plan"
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748:
638:"Trump pressed to halt federal pension investments in China's ZTE, Hikvision"
735:"Trump Administration Tells Federal Retirement Plan to Avoid Chinese Stocks"
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One member representing the largest group of individuals receiving annuities
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809:
805:"Chinese firms threatening US can get investment from federal employees"
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One member representing the interests of women in Federal civil service
703:"Senators seeking China ban for federal pension plan dispute critics"
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833:"US federal pension fund to exclude Hong Kong and China investments"
670:"U.S. Retirement Fund Okays China Investment After Senate Threat"
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List of members of the Federal Retirement Thrift Investment Board
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539:"Lawmakers Question TSP Foreign Investment Decisions, and More"
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plan. The Thrift Savings Plan is one of the three parts of the
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142:, which is a retirement savings and investment plan for
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Independent agencies of the United States government
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Bauman, Valerie; Tatlow, Didi Kirsten (2023-05-22).
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One member representing the Senior Executive Service
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136:independent agency of the United States government
830:Hughes, Jennifer; Lockett, Hudson (2023-11-15).
912:Government-owned companies of the United States
217:One member representing the uniformed services
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603:Bursztynsky, Jessica (September 11, 2019).
353:Investments in unaudited companies in China
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202:One member representing Postal supervisors
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907:Government agencies established in 1986
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181:The chairman also appoints a 15-member
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481:: CS1 maint: archived copy as title (
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668:Flatley, Daniel (November 13, 2019).
512:"Board, Executive Director, and ETAC"
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570:Brust, Amelia (September 13, 2019).
159:Federal Employees Retirement System
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537:Wagner, Erich (August 28, 2019).
368:United States Department of Labor
183:Employee Thrift Advisory Council
84:Ravindra Deo, Executive Director
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897:Retirement in the United States
715:from the original on 2019-11-27
650:from the original on 2020-05-02
636:Alper, Alexandra (2020-04-21).
464:from the original on 2017-10-03
234:List of current board members:
768:Au-Yeung, Angel (2022-08-03).
1:
733:Tergesen, Anne (2020-05-12).
701:McCrank, John (2019-11-26).
153:similar to a private sector
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151:defined contribution plan
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372:People's Liberation Army
775:The Wall Street Journal
740:The Wall Street Journal
423:"FRTIB: Board Members"
165:and confirmed by the
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360:Marco Rubio
281:Dana Bilyeu
881:Categories
845:2023-11-15
816:2023-05-22
789:2022-08-05
754:2020-05-13
719:2019-11-27
654:2020-05-03
468:2020-05-12
409:References
330:June 2023
309:June 2023
288:June 2010
173:Governance
81:, Chairman
784:0099-9660
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522:March 16,
382:Hong Kong
163:president
64:Employees
810:Newsweek
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261:(Chair)
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108:Website
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341:Vacant
155:401(k)
134:is an
115:.frtib
36:Formed
462:(PDF)
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780:ISSN
745:ISSN
688:2019
623:2019
610:CNBC
590:2019
577:WFED
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483:link
384:and
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130:The
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