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SELECTION OF THRIFT SAVINGS PLAN
CHIEF INVESTMENT OFFICER ANNOUNCED
Washington, D.C. (July 21, 2005) – The Federal Retirement Thrift Investment Board today announced the selection of Tracey A. Ray, CFA, to be Chief Investment Officer of the Agency which administers the Thrift Savings Plan (TSP) for Federal employees.
Ray joins the TSP with 25 years of investment experience in the private and public sectors. She currently serves as Deputy Chief Investment Officer for the Maryland State Retirement Agency. In this role, she has responsibility for investment portfolios with more than $10 billion in assets.
Before joining the Maryland agency, she had 20 years of private sector experience, including work as an account executive with Merrill Lynch and as Vice President of United States Fidelity and Guaranty (USF&G), a Baltimore-based Fortune 500 insurance company with $10 billion of invested assets. In 1988, she was awarded the designation of Chartered Financial Analyst. When St. Paul Companies acquired USF&G in 1998, she was one of a small number of professionals retained to manage the assets of F&G Life.
Gary A. Amelio, Executive Director of the Board, said, “Tracey has exactly the skills and experience we were seeking. I’m thrilled that her talents will now be put to work for the benefit of TSP participants.” Ray will complete her current duties for the State of Maryland in the coming weeks, and begin her new role as CIO in mid-August.
The TSP is a retirement savings plan for Federal employees; it is similar to the 401(k) plans offered by many private employers. As of June 30, 2005, TSP assets totaled more than $159 billion, and retirement savings accounts were being maintained for more than 3.4 million TSP participants. Participants include Federal civilian employees in all branches of Government, employees of the U.S. Postal Service, and members of the uniformed services.
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