TSP Fiduciary Security Act of 2023

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Status In Committee
Sponsor Marco Rubio
Citation 118-S-149
Actions 2
Introduced Jan 30th, 2023
Cosponsors
Last Action Jan 30th, 2023
Policy Area
Introduced Senate Jan 30
Senate
House
President
Enacted

Summary

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What this bill does

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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.

Actions

2
Senate
INTRODUCED
INTRODUCED
Jan 30, 2023
ON FLOOR
REFERRED TO COMMITTEE
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