Federal Retirement Thrift Investment Board
- Federal Retirement Thrift Investment Board
Federal Thrift Retirement Investment Board | | Established: | 1986 | | Director: | Andrew Saul | | Employees: | 100 (2004) | |
The Federal Retirement Thrift Investment Board was established as an independent agency of the United States government by the Federal Employees Retirement System Act of 1986. It is one of the smaller executive branch agencies, with just over 100 employees. It was established to administer the Thrift Savings Plan, which provides Federal employees the opportunity to save for additional retirement security. The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world with over 3.7 million participants and assets worth over $210 billion dollars. Both the board and its Chairman are nominated by the President and confirmed by the United States Senate. The current Chairman is Andrew Saul.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. 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.
The first Chairman of the board was Roger W. Mehle, who was appointed on October 1st, 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. Clintons named 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.
ee also
List of members of the Federal Retirement Thrift Investment Board
External links
* [http://www.frtib.gov/ frtib.gov]
Wikimedia Foundation.
2010.
Look at other dictionaries:
List of members of the Federal Retirement Thrift Investment Board — This is a list of members of the Federal Retirement Thrift Investment Board. The Federal Retirement Thrift Investment Board was created by the United States Congress in 1986 to manage the Thrift Savings Plan, the retirement plan for members of… … Wikipedia
Thrift Savings Plan — The Federal Thrift Savings Plan, or TSP, is a retirement savings plan for civilians who are, or previously were, employed by the United States Government and for members of the uniformed services. The TSP encompasses many millions of investors… … Wikipedia
List of United States federal agencies — This is an incomplete list of United States federal agencies. All are agencies within one of the three branches of the United States government. Executive Branch Departmental agencies are organized by department. Independent agencies of the… … Wikipedia
Agence indépendante du gouvernement fédéral des États-Unis — Agence indépendante du gouvernement des États Unis Une agence indépendante du gouvernement des États Unis (en anglais Independent agencies of the United States Government) est une agence de la branche exécutive du gouvernement fédéral des États… … Wikipédia en Français
Agences indépendantes du gouvernement fédéral — Agence indépendante du gouvernement des États Unis Une agence indépendante du gouvernement des États Unis (en anglais Independent agencies of the United States Government) est une agence de la branche exécutive du gouvernement fédéral des États… … Wikipédia en Français
Andrew Saul — Infobox Politician name = Andrew Saul width = height = caption = birth date = Birth date and age|1946|11|6|mf=y birth place = New York City, New York residence = Katonah, New York death date = death place = office = Chairman, Federal Retirement… … Wikipedia
Liste des agences fédérales des États-Unis — Demande de traduction List of United States federal agencies → … Wikipédia en Français
Executive Schedule — The Executive Schedule (usc|5|5311|5318) contains the pay rates for executive positions in the United States Government classified above the Senior Executive Service. The incumbents of positions listed under the Executive Schedule are typically… … Wikipedia
Независимые агентства и корпорации Федерального правительства США — Проверить информацию. Необходимо проверить точность фактов и достоверность сведений, изложенных в этой статье. На странице обсуждения должны быть пояснения. Независимые агентства и корпорации Федерального … Википедия
Independent agencies of the United States government — are those that exist outside of the departments of the executive branch. Established through separate statutes passed by the U.S. Congress, each respective statutory grant of authority defines the goals the agency must work towards, as well as… … Wikipedia
