President Joe Biden nominated three people to the Federal Retirement Thrift Investment Board, Washington, and renominated a current member.
Javier E. Saade was nominated as chairman of the FRTIB, which administers the $780.3 billion Thrift Savings Plan, on Monday. Mr. Saade's term would expire in October 2026, and he would replace Acting Chairman David A. Jones.
Mr. Saade served on the Biden administration's transition agency review team for the Department of Treasury and served as associate administrator of investment and innovation of the Small Business Administration during the Obama administration. He is managing partner at Impact Master Holdings and venture partner at Fenway Summer.
Leona Bridges, a commissioner for the $36 billion San Francisco City & County Employees' Retirement System, was nominated to a term expiring in October 2023 currently held by William S. Jasien.
Stacie Olivares, a trustee of the $491.8 billion California Public Employees' Retirement System, Sacramento, and board member of the Mission Advancement Corp. and the Kroll Bond Rating Agency, was selected to fill a term expiring in September 2024, replacing Ronald McCray.
Dana K. Bilyeu, executive director of the National Association of State Retirement Administrators, was renominated for a third term, expiring in October 2023.
The board currently has four members, leaving Mr. Biden with the opportunity to nominate one additional member. The board's last permanent chairman, Michael D. Kennedy, stepped down in June 2020.