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The TSP governing board has chosen as the new executive director of the program Ravindra Deo, who has filled that position on an acting basis since May. Deo, who joined the TSP in 2015 from the investment industry, formerly served as the program’s chief investment officer and acting chief operating officer. The executive director of the TSP functions much like the chief executive officer of a private company, with the governing board acting like a board of directors. Meanwhile, all TSP funds posted gains in July, led by the international stock I fund, up 2.88 percent, followed by the large company stock C fund, 2.05 percent, and the small company stock S fund, 1.11 percent. The bond F fund gained 0.43 percent and the government securities G fund 0.19 percent. The monthly returns for the lifecycle L funds were: Income, 0.6; 2020, 0.96; 2030, 1.42; 2040, 1.63; 2050, 1.82. For year-to-date, last-12-month returns and TSP insight, visit http://www.fedweek.com/thrift-savings-plan/