PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Congressional Research Service
Version 00 · 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.
People & committees
Sen. Rubio, Marco [R-FL] · R–FL
Legislative record
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Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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