WASHINGTON--(EON: Enhanced Online News)--The Federal Retirement Thrift Investment Board Executive Director Greg Long today recognized Pamela-Jeanne Moran (known as Penny), a recipient of the 2011 Presidential Meritorious Rank Award. This award, which is given to a very select group of career senior executives each year, is conferred by the President of the United States and is given for sustained accomplishment.
“The leadership, drive, and integrity that Penny Moran demonstrated has earned her one of the most prestigious honors in government”
“The leadership, drive, and integrity that Penny Moran demonstrated has earned her one of the most prestigious honors in government,” said Mr. Long. “Receiving the Presidential Meritorious Rank Award is an honor not only for Penny but for the entire Agency and we are truly proud of her. This award is a fitting tribute to Penny, who retired from the Agency at the end of February.”
Ms. Moran joined the Board, which administers the Thrift Savings Plan (TSP), in December 1986, as a charter member of the start-up staff with the title Deputy Director for Automated Systems. In 1996, she was appointed Deputy Director of External Affairs, and subsequently joined the Senior Executive Service.
She was promoted to the position of Director of Participant Services in August 2004 and was responsible for the TSP’s communications and education programs, and all participant services. Ms. Moran performed a broad overhaul of her TSP responsibilities, refocusing program efforts to address two key strategic goals: improved customer service and increased TSP utilization.
Ms. Moran strove for continual improvement to Thrift Savings Plan customer services and built an extremely effective call center and form processing operation. She also led the creation of timely, award winning participant communication materials that have led to an increase of more than 1 million participants and an additional $130 billion under management since 2004. Ms. Moran directed the communications campaign that brought the uniformed services into the TSP much more quickly and in greater numbers than projected, providing an opportunity to more than 500,000 service members to better prepare for retirement.
Perhaps most importantly, Ms. Moran played a major role in shaping the TSP into a model for the industry, playing a significant role in the TSP’s extremely low expense ratio of 2.5 basis points. By keeping TSP costs down, Ms. Moran helped TSP participants and beneficiaries retire with dignity and lived up to the mission of the agency.
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 April 2012, TSP assets totaled approximately $313 billion, and retirement savings accounts were being maintained for roughly 4.5 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. Additional information can be found at www.tsp.gov.