S. 149 · 118th Congress
TSP Fiduciary Security Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsorNo cosponsors.
This bill incorporates national security interests into management of the Thrift Savings Fund.
What it does: CRS summary · Introduced in Senate · Jan 30, 2023
TSP Fiduciary Security Act of 2023
This bill incorporates national security interests into management of the Thrift Savings Fund.
Specifically, the bill requires fiduciaries that are responsible for managing the fund (i.e., the Federal Retirement Thrift Investment Board) to prevent fund investments and associated votes that harm the national security of the United States, including investments in entities on certain lists maintained by the Department of Defense and the Department of Commerce (e.g., Chinese military companies). The Department of Labor must issue implementing regulations that include these and other standards for compliance.
Beginning January 1, 2025, fiduciaries may be held personally liable for monetary damages and may be assessed civil penalties for failing to meet these requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: TSP Fiduciary Security Act of 2023
Latest action (Jan 30, 2023): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Jan 30, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.