---
kind: "section"
citation: "5 U.S.C. § 8474"
title: "5"
title_heading: "Government Organization and Employees"
number: "8474"
heading: "Executive Director"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/5/8474"
units:
  - "Part III — Employees"
  - "Subpart G — Insurance and Annuities"
  - "Chapter 84 — Federal Employees’ Retirement System"
  - "Subchapter VII — Federal Retirement Thrift Investment Management System"
---

# §8474. Executive Director

- (a)
  - (1) The [Board](/usc/5/8401.md?p=5) shall appoint, without regard to the provisions of law governing appointments in the competitive [service](/usc/5/8401.md?p=26), an [Executive Director](/usc/5/8401.md?p=13) by action agreed to by a majority of the [members](/usc/5/8401.md?p=20) of the [Board](/usc/5/8401.md?p=5).
  - (2) The [Executive Director](/usc/5/8401.md?p=13) shall have substantial experience, [training](/usc/5/4101.md?p=4), and expertise in the management of financial investments and pension benefit plans.
- (b) The [Executive Director](/usc/5/8401.md?p=13) shall—
  - (1) carry out the policies established by the [Board](/usc/5/8401.md?p=5);
  - (2) invest and manage the [Thrift Savings Fund](/usc/5/8471.md?p=5) in accordance with the investment policies and other policies established by the [Board](/usc/5/8401.md?p=5);
  - (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](/usc/5/9801.md?p=1) of this subchapter and subchapter III of this chapter; and
  - (6) meet from time to time with the [Council](/usc/5/8471.md?p=2) upon request of the [Council](/usc/5/8471.md?p=2).
- (c) The [Executive Director](/usc/5/8401.md?p=13) may—
  - (1) prescribe such regulations as may be necessary to carry out the responsibilities of the [Executive Director](/usc/5/8401.md?p=13) 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](/usc/5/8401.md?p=5), procure the [services](/usc/5/8401.md?p=26) of experts and consultants under [section 3109 of this title](/usc/5/3109.md);
  - (4) secure directly from an [Executive agency](/usc/5/6501.md?p=2), the [United States](/usc/5/7103.md?p=a-18) Postal [Service](/usc/5/8401.md?p=26), or the Postal Regulatory Commission any information necessary to carry out the provisions of this subchapter or subchapter III of this chapter and policies of the [Board](/usc/5/8401.md?p=5);
  - (5) make such payments out of sums in the [Thrift Savings Fund](/usc/5/8471.md?p=5) as the [Executive Director](/usc/5/8401.md?p=13) determines are necessary to carry out the provisions of this subchapter and subchapter III of this chapter and the policies of the [Board](/usc/5/8401.md?p=5);
  - (6) [pay](/usc/5/7511.md?p=a-4) the compensation, per diem, and travel expenses of individuals appointed under paragraphs (2), (3), and (7) of this subsection from the [Thrift Savings Fund](/usc/5/8471.md?p=5);
  - (7) accept and use the [services](/usc/5/8401.md?p=26) of individuals employed intermittently in the [Government](/usc/5/4101.md?p=3) [service](/usc/5/8401.md?p=26) and reimburse such individuals for travel expenses, as authorized by [section 5703 of this title](/usc/5/5703.md), including per diem as authorized by [section 5702 of this title](/usc/5/5702.md);
  - (8) except as otherwise expressly prohibited by law or the policies of the [Board](/usc/5/8401.md?p=5), delegate any of the [Executive Director](/usc/5/8401.md?p=13)’s functions to such [employees](/usc/5/4701.md?p=a-2) under the [Board](/usc/5/8401.md?p=5) as the [Executive Director](/usc/5/8401.md?p=13) may designate and authorize such successive redelegations of such functions to such [employees](/usc/5/4701.md?p=a-2) under the [Board](/usc/5/8401.md?p=5) as the [Executive Director](/usc/5/8401.md?p=13) 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](/usc/5/8401.md?p=13).

## Source credit

(Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 580; amended Pub. L. 109–435, title VI, § 604(b), Dec. 20, 2006, 120 Stat. 3241.)

## Notes

### Editorial Notes

### Amendments

2006—Subsec. (c)(4). Pub. L. 109–435 substituted “Postal Regulatory Commission” for “Postal Rate Commission”.