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White House to nominate new TSP board members

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The White House last night announced its intention to nominate two new members to the Federal Retirement Thrift Investment Board, which oversees the Thrift Savings Plan:

  • Dana Bilyeu will replace current board member Thomas Fink. Bilyeu has been executive officer of Nevada’s Public Employees’ Retirement System for more than six years, where she oversees plan funding analysis, investment oversight, operational and strategic planning, and other fiduciary and governance issues. She also is currently a member of the Social Security Advisory Board.
  • Michael Kennedy will replace current board member Gordon Whiting. Kennedy, a former investment manager, is now a senior client partner at Korn/Ferry International and a member of the firm’s Global Financial Services Practice in Atlanta. He also previously served as a vice president at Wachovia Corp. and a vice president at GE Capital Corp.

Tom Trabucco, the board’s external affairs director, said all five current members of the board are serving beyond their terms and will be replaced “sooner or later.” But Trabucco did not know when the White House will announce further nominations.

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