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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
ANNOUNCES SELECTION OF FIRM TO PROVIDE
INVESTMENT CONSULTING SERVICES

    Washington, D.C. (September 12, 2005) – The Federal Retirement Thrift Investment Board announced today that it has selected Ennis Knupp + Associates of Chicago, Illinois, to provide investment consulting services to the Thrift Savings Plan (TSP) for Federal employees. The selection was made through a competitive procurement.

    The term of the contract is a base period of three years, with two one-year options renewable at the Board’s discretion. The Board estimates that the value of the contract ranges from $175,000 to $360,000.

    Major tasks to be performed include providing ongoing expert consulting advice concerning certain aspects of the Agency’s investment program and the procurement of investment services. This includes:

• reviewing current and potential indexes for use in the existing funds;

• assessing the risks of various investment management practices and arrangements;

• assisting in the public bidding process for the four existing managed funds (providing input on issues such as index management, custody, fees, and securities lending practices); and

• reviewing existing and other available investment options and providing appropriate recommendations concerning new investment funds, if any.

    The TSP is a retirement savings plan for Federal civilian employees and members of the uniformed services which is similar to the 401(k) plans offered by many private employers. It was created by the Federal Employees’ Retirement System Act of 1986. As of August 31, 2005, TSP assets totaled approximately $165 billion, and retirement savings accounts were being maintained for nearly 3.5 million TSP participants.   

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