The Federal Retirement Thrift Investment Board (FRTIB) announced today that its current Executive Director Greg Long will be stepping down after 11 years. Long’s last day is set for May 5, 2017.
The FRTIB is the agency in charge of administering the Thrift Savings Plan (TSP).
Long began at the FRTIB in March of 2006 as the Director of Product Development for the TSP, serving as the Agency’s chief research officer and principal advisor for all product development and related policy matters. Mr. Long was named Executive Director by the Board in March of 2007.
Some of the improvements to the TSP that have happened under Long’s tenure include:
- Immediate agency contributions to participant accounts
- Automatic enrollment of new Federal employees (initially in to the G Fund and statutorily changed to the L Fund in 2015)
- Spousal beneficiary accounts
- Roth TSP accounts
- Automatic enrollment of members of the uniformed services (effective January 2018)
Long said in a statement, “I am extremely fortunate to have had the experience of working with so many dedicated people who are united in working to serve our participants. We have the honor of serving other Federal employees and members of the uniformed services as they serve the American public.”
The FRTIB intends to conduct a nation-wide search for next Executive Director and has engaged an executive search firm to assist them in that effort.