In May FMA joined 16 fellow organizations within the Federal-Postal Coalition on a letter urging Senate Homeland Security and Governmental Affairs Committee leadership “conduct adequate review – including holding a committee hearing,” of the recent nominees to the Federal Retirement Thrift Investment Board (FRTIB). The FRTIB administers the Thrift Savings Plan (TSP).

The letter states, “FRTIB has a statutory, fiduciary duty to maximize employee savings, and historically has done so. Federal and postal employees and retirees and military service members invest in the TSP because they are confident that their best financial interests – and no others, including political interests – are at the core of decisions made on their behalf. It is incumbent upon the committee to ensure that the FRTIB nominees will continue to uphold that duty on behalf of the millions of current and former public servants and uniformed service members they would serve.” 

The letter neither opposes nor supports the three nominees; it only urges the Senate to conduct a thorough vetting and confirmation process in an effort to protect the feds who will need to rely on FRTIB to protect their retirement savings. To read the full letter, please click here.