US Laws, Codes, Statutes & Cases

From the U.S. Code Online via GPO Access
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[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 5USC8474]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
            CHAPTER 84--FEDERAL EMPLOYEES' RETIREMENT SYSTEM
 
 SUBCHAPTER VII--FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM
 
Sec. 8474. Executive Director

    (a)(1) The Board shall appoint, without regard to the provisions of 
law governing appointments in the competitive service, an Executive 
Director by action agreed to by a majority of the members of the Board.
    (2) The Executive Director shall have substantial experience, 
training, and expertise in the management of financial investments and 
pension benefit plans.
    (b) The Executive Director shall--
        (1) carry out the policies established by the Board;
        (2) invest and manage the Thrift Savings Fund in accordance with 
    the investment policies and other policies established by the Board;
        (3) purchase annuity contracts and provide for the payment of 
    other benefits under subchapter III of this chapter;
        (4) administer the provisions of this subchapter and subchapter 
    III of this chapter;
        (5) prescribe such regulations (other than regulations relating 
    to fiduciary responsibilities) as may be necessary for the 
    administration of this subchapter and subchapter III of this 
    chapter; and
        (6) meet from time to time with the Council upon request of the 
    Council.

    (c) The Executive Director may--
        (1) prescribe such regulations as may be necessary to carry out 
    the responsibilities of the Executive Director under this section, 
    other than regulations relating to fiduciary responsibilities;
        (2) appoint such personnel as may be necessary to carry out the 
    provisions of this subchapter and subchapter III of this chapter;
        (3) subject to approval by the Board, procure the services of 
    experts and consultants under section 3109 of this title;
        (4) secure directly from an Executive agency, the United States 
    Postal Service, or the Postal Rate Commission any information 
    necessary to carry out the provisions of this subchapter or 
    subchapter III of this chapter and policies of the Board;
        (5) make such payments out of sums in the Thrift Savings Fund as 
    the Executive Director determines are necessary to carry out the 
    provisions of this subchapter and subchapter III of this chapter and 
    the policies of the Board;
        (6) pay the compensation, per diem, and travel expenses of 
    individuals appointed under paragraphs (2), (3), and (7) of this 
    subsection from the Thrift Savings Fund;
        (7) accept and use the services of individuals employed 
    intermittently in the Government service and reimburse such 
    individuals for travel expenses, as authorized by section 5703 of 
    this title, including per diem as authorized by section 5702 of this 
    title;
        (8) except as otherwise expressly prohibited by law or the 
    policies of the Board, delegate any of the Executive Director's 
    functions to such employees under the Board as the Executive 
    Director may designate and authorize such successive redelegations 
    of such functions to such employees under the Board as the Executive 
    Director may consider to be necessary or appropriate; and
        (9) take such other actions as are appropriate to carry out the 
    functions of the Executive Director.

(Added Pub. L. 99-335, title I, Sec. 101(a), June 6, 1986, 100 Stat. 
580.)

                       References in Text

    The provisions of law governing appointments in the competitive 
service, referred to in subsec. (a)(1), are classified generally to 
section 3301 et seq. of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 5102, 8401, 8461, 8476 of 
this title.