; and (6) the Executive Director and 3 additional members of the Federal Retirement Thrift Investment Board established under section 8472(a) of title 5, United States Code. Of such 9 members, 1 shall be elected by the members of the Board as the Chair. (d) Terms and vacancies (1) Term A member of the Board shall be appointed for a term of 4 years and, after the expiration of such term, may be reappointed immediately to a subsequent term. (2) Vacancy A vacancy on the Board shall be filled in the manner in which the original appointment was made and shall be subject to any conditions which applied with respect to the original appointment. An individual chosen to fill a vacancy shall be appointed for the unexpired term of the member replaced. (3) Expiration The term of any member shall not expire before the date on which the member's successor takes office. (e) Responsibility The members of the Board shall discharge their responsibilities solely in the interest of participants and beneficiaries under this title. (f) Compensation (1) In general 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 under subchapter III of chapter 53 of title 5, United States Code, for each day during which such member is engaged in performing a function of the Board. (2) Per diem, etc A member of the Board shall be paid travel, per diem, and other necessary expenses while traveling away from such member's home or regular place of business in the performance of the duties of the Board. (3) Payments Payments authorized under this subsection shall be paid from the American Savings Account Fund. 102. Responsibilities of American Savings Account Board of Directors (a) Establishment of investment funds and options The Board shall select or establish a list of investment funds and options similar to those described in subsection (b) of section 8438 of title 5, United States Code, among which an individual participating