Federal Retirement Thrift Investment Board | Thrift Savings Plan

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Federal Retirement Thrift Investment Board

* http://www.frtib.gov/

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The Federal Retirement Thrift Investment Board (Agency) was established as an independent agency by the Federal Employees’ Retirement System Act of 1986.   (Click to go to the Agency’s legal authority at 5 U.S.C. 8472.)  It is one of the smaller Executive Branch agencies, with just over 80 employees.

The Agency was established to administer the Thrift Savings Plan (TSP), which provides Federal employees the opportunity to save for additional retirement security.  The TSP is a tax-deferred defined contribution plan similar to private sector 401(k) plans.  The TSP is one of the three parts of the Federal Employees’ Retirement System (FERS).  (Click to go to the rules governing the Agency located in 5 CFR Parts 1600 – 1699.)

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https://www.tsp.gov/index.shtml

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Federal Retirement Thrift Investment Board

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Executive Director

Gregory T. Long

 of Maryland. Greg is the Executive Director of the FRTIB, the Federal Agency that administers the Thrift Savings Plan (TSP). In this role, Greg serves as the Chief Executive Officer and managing fiduciary of the TSP. The TSP services 4.3 million current and former Federal employees and Uniformed Service members with over $244 billion in assets, making it the largest defined contribution plan in the world. Prior to his appointment as Executive Director, Greg was the FRTIB’s Director of Product Development, where he was responsible for the Agency’s strategic planning functions and its development of new services and products that promote beneficial savings behavior. Additionally, Greg managed all research efforts to understand the attitudes and investment behavior of TSP participants. Before joining the FRTIB, Greg spent seven years with CitiStreet, where he served as the Director of Marketing for the American Bar Association Retirement Funds. In that position, he oversaw all marketing, sales, and product development activity for a program that provides 401(k) services to over 4,000 law firms nationwide. Prior to CitiStreet, Greg spent six years with Putnam Investments, most recently as the Regional 401(k) Director in the southeast U.S. Greg was born in Boston in 1967 and is a graduate of St. Anselm College in Manchester, New Hampshire. He lives in Maryland with his wife and their son.

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Andrew M. Saul

of New York (Chairman). Since 1986, Mr. Saul has been a General Partner in Saul Partners, L.P., New York City. In addition, he served as Chairman of the board for Caché, Inc., from 1993 to 2000. Previously, he was an Executive Vice President, 1968-80, and then President, 1980-85, for Brooks Fashion Stores, Inc. From 1985-86, he was President of BR Investors. Mr. Saul is a trustee for the Metropolitan Museum of Art, Sarah Neuman Nursing Home, Westchester, New York, and the United Jewish Appeal Federation, New York City. He is also Commissioner, Metropolitan Transportation Authority, New York City, and is on the Board of Overseers for Wharton School of Finance, University of Pennsylvania. Mr. Saul received his B.S. (1968) from Wharton School of Finance. He was born in New York City in 1946, and currently resides in the New York area with his wife. They have two daughters.

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Alejandro M. Sanchez

of Florida. Mr. Sanchez is the Chief Executive Officer of the Florida Bankers Association (FBA). He serves as one of the fiduciaries for the FBA pension plan. He has served on the boards of several non-profit organizations in Florida. He currently serves on the Board of Florida Tax Watch, and is a member of the Florida Bar. He served almost five years in the United States Air Force from 1976-81. Mr. Sanchez graduated from Troy State University (B.S., 1981) and the University of Iowa (J.D., 1983). Mr. Sanchez practiced law with the law firm of Sinclair Louis in Miami from 1984-1986, served as Inspector General and General Counsel for the Florida Department of Commerce from 1987-1988, and was Senior Corporate Counsel for GTE Information Services in Tampa from 1989-1993. He joined the FBA in 1993 and was named CEO in 1998. He was born in Havana, Cuba, on January 12, 1958, and currently resides in Florida with his wife and their two children.

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Terrence A. Duffy

of Illinois. Mr. Duffy was elected Chairman of the Board of Chicago Mercantile Holdings Inc. (CME Holdings) and Chairman of the Board of Chicago Mercantile Exchange Inc. (CME) in April 2002. He was Vice Chairman of the Board of CME Holdings, Inc. from its formation in August 2001 and of the Board of CME from 1998 to April 2002. He has been President of TDA Trading, Inc. since 1981. He has been a CME member since 1981 and a Board member since 1995. As the company’s Vice Chairman, Duffy served on the executive, compensation, nominating, strategic planning, and regulatory oversight committees. In 2002, he was appointed by President Bush to serve on a National Saver Summit on Retirement Savings. In 2004, Mr. Duffy was appointed to the Board of Directors of World Business Chicago, the Board of Regents for Mercy Home for Boys and Girls, and the Advisory Council for the Graham School of Management of Saint Xavier University. He is also a member of the Economic Club of Chicago, the Executives’ Club of Chicago, and the Chicago Committee of the Chicago Council on Foreign Relations. Mr. Duffy attended the University of Wisconsin-Whitewater, studying business administration. He was recognized as one of the top 100 Irish Business Leaders by Irish America Magazine in 2003 and 2004. A Chicago native, Mr. Duffy and his wife have two children.

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Michael Kennedy

of Georgia. Mr. Kennedy is a Managing Director in the Atlanta office of Korn/Ferry International and a member of the firm’s global financial services practice, specializing in commercial/investment banking, capital markets, and asset management searches. He also co-leads Korn/Ferry’s Diversity Practice. He has conducted senior-level searches in a wide array of investment banking and capital markets areas, including mergers and acquisitions, corporate finance, loan syndications, structured finance, and risk management. Mr. Kennedy brings broad private equity and corporate finance experience to his executive recruiting. Prior to joining Korn/Ferry, he owned a venture capital consulting firm where he advised a southeast-based private equity fund. Before founding his own firm, Mr. Kennedy was a Vice President in the corporate finance group at GE Capital Corporation, where he provided senior debt, mezzanine, and equity financings to companies for recapitalizations, acquisitions, and buyouts. Previous to that, he was a Vice President at the Wachovia Corporation in the US corporate group. Mr. Kennedy started his financial services career in Investment Management at J.P. Morgan & Company in New York. Mr. Kennedy is an active member of Leadership Atlanta, the Atlanta Venture Forum, and the Harvard Business Club of Atlanta. He currently serves as Chairman of the Board of Visitors of the University of North Carolina. He also serves as a member of the Board of Trustees of the Georgia Employees’ Retirement System pension fund, and is a recent member of the Board of Trustees of the Phillips Exeter Academy in Exeter, New Hampshire. Mr. Kennedy holds a B.A. with highest honors in history and political science from the University of North Carolina at Chapel Hill and an M.B.A. from the Harvard Business School.

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Dana K. Bilyeu

of Nevada. Mrs. Bilyeu is the Executive Officer of the Public Employees’ Retirement System of Nevada. She is responsible for all aspects of fund management including analysis of plan funding, investment oversight, operational and strategic planning, and fiduciary and governance issues. In her capacity as the Executive Officer, Mrs. Bilyeu provides information and analysis to the Nevada Legislature in consideration of pension policy issues affecting state and local government. Prior to her appointment as the Executive Officer, Mrs. Bilyeu served for eight years as the System’s Operations Officer. Preceding her employment at the System, Mrs. Bilyeu was the System’s legal counsel in the Office of the Nevada Attorney General, representing the System in a variety of aspects from benefits litigation, to contracts analysis, to Board governance. In 2006, Mrs. Bilyeu was nominated by the President and confirmed by the Senate to the Social Security Advisory Board. The Advisory Board is an independent, bipartisan board created by Congress and appointed President and the Congress to advise the President, the Congress, and the Commissioner of Social Security on matters related to Social Security and Supplemental Security Income programs. Mrs. Bilyeu is a member of the executive committee of the National Association of State Retirement Administrators, and is a member of the National Council on Teacher Retirement, the National Conference of Public Employee Retirement Systems, and the National Association of Public Pension Attorneys. She also serves on the Public Employee Board of the International Foundation of Employee Benefit Plans. She received her juris doctor from California Western School of Law and her B.A. from the University of Arizona. She lives in Nevada with her husband and their son.

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Roster

ETAC Members

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American Federation of Government 

Jacqueline Simon

Director of Public Policy

80 F Street NW

Washington, DC 20001

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National Federation of Federal Employees

William Dougan

President

805 15th Street NW

Suite 500

Washington, DC 20005

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National Treasury Employees Union

Colleen M. Kelley

President

1750 H Street NW

Washington, DC 20006

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National Association of Government Employees

David J. Holway

President

159 Burgin Parkway

Quincy, MA 02169-4213

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American Postal Workers Union

Myke Reid

Legislative Director

1300 L Street NW

Washington, DC 20005

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National Association of Letter Carriers

James W. Sauber *

Chief of Staff

100 Indiana Avenue NW

Washington, DC 20001-2144

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National Rural Letter Carriers’ Association

Clifford D. Dailing

Secretary-Treasurer

1630 Duke Street

Alexandria, VA 22314-3499

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National Association of Postmasters of the United States

Robert Rapoza

President

8 Herbert Street

Alexandria, VA 22305-2600

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National League of Postmasters of the United States

Charles Mapa

President

5904 Richmond Highway

Suite 500

Alexandria, VA 22303

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National Association of Postal Supervisors

Louis M. Atkins

Executive Vice

President

1727 King Street

Alexandria, VA 22314-2753

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Federally Employed Women, Inc.

Sharon Roydes

7715 White Dove Drive

Indianapolis, IN 46256

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National Association of Retired Federal Employees

Dick Ostergren **

 National Treasurer

 606 North Washington Street

Alexandria, VA 22314-7760

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Federal Managers Association

Patricia Niehaus

President

1641 Prince Street

Alexandria, VA 22314

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Senior Executives Association

Richard L. Strombotne

P.O. Box 83519

Gaithersburg, MD 20883-3519

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Uniformed Services

Steven Galing

Armed Forces Tax Council

Office of Military Compensation

Department of Defense

4000 Defense Pentagon

Washington, DC 20301-4000

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* Chairman

** Vice Chairman

Updated 6/22/2010