Rep. Banks Reintroduces Bill to Prohibit TSP Investment in Chinese Companies
Thursday, May 20, 2021
WASHINGTON - Congressman Jim Banks reintroduced the Prohibiting TSP Investment in China Act to prevent federal retirements accounts from investing in companies tied to Russia and China.
The Prohibiting TSP Investment in China Act would prohibit Thrift Savings Plan funds from being invested in any entity based in China. These investments would funnel capital to companies that commonly skirt U.S. sanction laws and flout U.S. financial-reporting requirements. The TSP is the predominant government retirement fund and is utilized by 6,000,000 military members and federal civilian employees.
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