
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 5USC8476]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
            CHAPTER 84--FEDERAL EMPLOYEES' RETIREMENT SYSTEM
 
 SUBCHAPTER VII--FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM
 
Sec. 8476. Administrative provisions

    (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 level IV of the Executive Schedule for each 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 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.
    (e) The accrued annual leave of any employee who is a member of the 
Board or the Council shall not be charged for any time used in 
performing services for the Board or the Council.

(Added Pub. L. 99-335, title I, Sec. 101(a), June 6, 1986, 100 Stat. 
581; amended Pub. L. 101-509, title V, Sec. 529 [title I, 
Sec. 101(b)(9)(K)], Nov. 5, 1990, 104 Stat. 1427, 1442.)

                       References in Text

    Level IV of the Executive Schedule, referred to in subsec. (d)(1), 
is set out in section 5315 of this title.


                               Amendments

    1990--Subsec. (d)(1). Pub. L. 101-509 substituted ``level IV of the 
Executive Schedule'' for ``grade GS-18 of the General Schedule''.


                    Effective Date of 1990 Amendment

    Amendment by Pub. L. 101-509 effective on such date as the President 
shall determine, but not earlier than 90 days, and not later than 180 
days, after Nov. 5, 1990, see section 529 [title III, Sec. 305] of Pub. 
L. 101-509, set out as a note under section 5301 of this title.
