Page:United States Statutes at Large Volume 100 Part 1.djvu/617

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PUBLIC LAW 99-000—MMMM. DD, 1986

PUBLIC LAW 99-335—JUNE 6, 1986

100 STAT. 581

information necessary to carry out the provisions of this subchapter or subchapter III of this chapter and policies of the Board; "(5) make such payments out of sums in the Thrift Savings Fund as the Executive Director determines are necessary to carry out the provisions of this subchapter and subchapter III of this chapter and the policies of the Board; "(6) pay the compensation, per diem, and travel expenses of individuals appointed under paragraphs (2), (3), and (7) of this subsection from the Thrift Savings Fund; "(7) accept and use the services of individuals employed intermittently in the Government service and reimburse such individuals for travel expenses, as authorized by section 5703 of this title, including per diem as authorized by section 5702 of this title; "(8) except as otherwise expressly prohibited by law or the policies of the Board, delegate any of the Executive Director's functions to such employees under the Board as the Executive Director may designate and authorize such successive redelegations of such functions to such employees under the Board as the Executive Director 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. "§ 8475. Investment policies "The Board shall develop investment policies under section 8472(f)(1) of this title which provide for— "(1) prudent investments suitable for accumulating funds for payment of retirement income; and "(2) low administrative costs.

5 USC 5703. 5 USC 5702.

5 USC 8475.

"§ 8476. Administrative provisions 5 USC 8476. "(a) The Board shall meet— "(1) not less than once during each month; and "(2) at additional times at the call of the Chairman. "(b)(1) Except as provided in sections 8472(g)(1)(C) and 8474(a)(1) of this title, the Board shall perform the functions and exercise the powers of the Board on a majority vote of a quorum of the Board. "(2) A vacancy on the Board shall not impair the authority of a quorum of the Board to perform the functions and exercise the powers of the Board. "(c) Three members of the Board shall constitute a quorum for the transaction of business. "(d)(1) Each member of the Board who is not an officer or employee of the Federal Government shall be compensated at the daily rate of basic pay for grade GS-18 of the General Schedule for each 5 USC 5332. day during which such member is engaged in performing a function of the Board. "(2) A member of the Board shall be paid travel, per diem, and other necessary expenses under subchapter I of chapter 57 of this title while traveling away from such member's home or regular 5 USC 5701. place of business in the performance of the duties of the Board. "(3) Payments authorized under this subsection shall be paid from the Thrift Savings Fund.