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Federal Retirement Thrift Investment Board

77 K Street NE., Washington, DC 20002



Board Members

Board Members
CHAIR Michael D. Kennedy

Dana K. Bilyeu
William S. Jasien
David A. Jones
Ronald D. McCray


Financial Susan C. Crowder
Investment Ravindra Deo, Acting
Operating Suzanne Tosini
Risk Jay Ahuja
Technology Suzanne Tosini, Acting

Communications and Education James Courtney
Enterprise Planning Renée Wilder Guerin
Enterprise Risk Management Jay Ahuja
External Affairs Kimberly A. Weaver
Participant Operations and Policy Guadalupe Ramos
Resource Management Gisile Goethe

General Counsel Megan Grumbine

The above list of key personnel was updated 12–2017.

The above list of key personnel was updated 12–2017.

The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan in the interest of its participants and beneficiaries.

The Federal Retirement Thrift Investment Board (FRTIB) was established as an independent agency by the Federal Employees' Retirement System Act of 1986 (5 U.S.C. 8351 and 8401-79). The act vests responsibility for the agency in six named fiduciaries: the Executive Director and the five members of the FRTIB.

With the advice and consent of the Senate, the President appoints two board members. The President also appoints the remaining three members and designates one of them as the Chair. Board members serve on a part-time basis, and they appoint the Executive Director, who is responsible for managing the agency and the Thrift Savings Plan (TSP).


The TSP is a tax-deferred, defined contribution plan that constitutes one of the three components of the Federal Employees' Retirement System (FERS). Employees participating in the FERS accumulate savings through the TSP and combine those savings with retirement income from the two other components: Social Security benefits and the FERS Annuity. Employees participating in the Civil Service Retirement System (CSRS) and members of the uniformed services also may take advantage of the TSP to supplement their annuities.

The FRTIB operates the TSP and manages the investments of the Thrift Savings Fund for the benefit of participants and their beneficiaries. These operational and management responsibilities include maintaining an account for each TSP participant, making loans, purchasing annuity contracts, and providing for the payment of benefits.

Sources of Information

Announcements / News

To keep abreast of current TSP developments, visit the "What's New" web page.

Career Opportunities

To carry out its mission, the FRTIB relies on financial experts, tax attorneys, and other professionals who possess diverse skills and expertise.

In 2016, the FRTIB ranked 14th among 29 small agencies in the Partnership for Public Service's Best Places To Work Agency Rankings.

Expense Ratio

The net TSP expense ratio represents the amount that TSP administrative expenses reduce the investment returns of participants.

Federal Employees' Retirement System (FERS)

The "U.S. Code" is the codification by subject matter of the general and permanent laws of the United States. Title 5, Chapter 84, of the "U.S. Code" describes the FERS.


The TSP website has a collection of forms that are categorized by topic and by form number for civil service employees. Each form is available in Portable Document Format for viewing and downloading.

The TSP website has a collection of forms that are categorized by topic and by form number for members of the uniformed services. Each form is available in Portable Document Format for viewing and downloading.

Freedom of Information Act (FOIA)

Before making a FOIA request, consult the FRTIB's "Freedom of Information Act Guide." It is accessible online in Portable Document Format (PDF). | Email:

Frequently Asked Questions (FAQs)

The TSP posts answers to FAQs on its website.


The TSP website has a glossary of terms.


In 1987, the TSP received its first participant contributions. Since that time, it has grown into the largest defined contribution retirement plan in the world. Read what former Executive Director Gregory T. Long had to say about the TSP's inception and growth during its first 30 years.

The U.S. Congress established the TSP by passing the Federal Employees' Retirement System Act of 1986. The TSP offers the same types of savings and tax benefits that private corporations offer to their employees. To learn more, visit the "Purpose and History" web page.

A history of TSP share prices is available online.

Investment Strategy

Account consolidation, compounding, and tax deferral can maximize retirement savings. Learn more about taking advantage of these benefits by visiting the "Maximize Your Retirement Savings" section of the TSP website.

Meeting Minutes

Starting with the year 2007 and continuing to the present, minutes of the meetings of FRTIB members are available online.

Newsletter Archive

The TSP posts issues of its newsletter "Highlights" on its website. Beginning with the year 2009, issues are available in Portable Document Format (PDF) for viewing and downloading.


The TSP posts publications online in Portable Document Format (PDF) on its "All Publications" web page.

Reading Room

FOIA reports, frequently requested records, press releases, regulations, reports to Congress, statements, surveys, and more are accessible in the electronic reading room.

Retirement Planning and Tools

The TSP website has information and tools for retirement planning.

Site Map

The TSP site map allows visitors to look for specific topics or to browse content that aligns with their interests.

Social Media

The TSP has a Facebook account.

The TSP tweets announcements and other newsworthy items on Twitter.

The TSP posts videos on its YouTube channel.

Website Orientation

An orientation video of the TSP website is available online.

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