Rubio Reintroduces Bill to Prevent TSP Investments In China

A bill to prevent assets managed by the Federal Retirement Thrift Investment Board, Washington, from being invested in certain Chinese companies has been reintroduced in the Senate.

Sen. Marco Rubio, R-Fla., reintroduced the TSP Fiduciary Security Act, which would amend the board’s fiduciary duty to include a requirement not to harm national security, on Jan. 30.

Under the bill, Thrift Savings Plan assets could not be invested in “Communist Chinese military companies.”

Also, the board’s investment decisions and the proxy votes associated with TSP funds would be assessed for national security risks by the secretary of Labor, in consultation with the secretaries of Defense, Treasury and Homeland Security and the attorney general. Click HERE to read more.