US SB1993 | 2021-2022 | 117th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on June 9 2021 - 25% progression
Action: 2021-06-09 - Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Pending: Senate Homeland Security And Governmental Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

TSP Fiduciary Security Act

Sponsors


History

DateChamberAction
2021-06-09SenateRead twice and referred to the Committee on Homeland Security and Governmental Affairs.

Subjects


US Congress State Sources


Bill Comments

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