As a result of Mr. Saade’s nomination didn’t obtain majority assist in committee, it can not transfer ahead to the complete Senate with out Majority Chief Chuck Schumer, D-N.Y., discharging it from committee.
“I’m honored President Biden has entrusted me to function Chair,” Mr. Gerber mentioned in a press release. “David has a set a excessive bar of management and the outgoing board members have set an incredible instance of stewardship. I look ahead to working with David, our fellow board members and FRTIB workers to proceed offering TSP contributors and beneficiaries the first-rate expertise they deserve.”
Mr. Gerber is one in every of three new board members the Senate confirmed final month.
Leona M. Bridges, a commissioner for the $34.four billion San Francisco Metropolis & County Staff’ Retirement System, was confirmed to a time period expiring in October 2023.
Stacie Olivares, a trustee of the $433.three billion California Public Staff’ Retirement System, Sacramento, director of the Mission Development Corp. and a board member on the Kroll Bond Ranking Company, was confirmed to a time period expiring in September 2024.
And Dana Okay. Bilyeu, government director of the Nationwide Affiliation of State Retirement Directors, was confirmed to a 3rd time period, expiring in October 2023.
The Federal Retirement Thrift Funding Board administers the $734.three billion Thrift Financial savings Plan, Washington, the retirement system for six.6 million federal staff and members of the uniformed companies.
Notably, the board transitioned to a brand new document keeper, Accenture Federal Providers, on June 1 and launched a brand new web site on the identical day. The web site has drawn criticism from contributors who’ve reported log-in points, lengthy customer support wait occasions and transaction difficulties.
