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S 1368 119th Congress Senate Government Operations and Politics

TSP Fiduciary Security Act of 2025

Introduced: April 9, 2025 Introduced by: Scott, Rick Republican · Florida See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 9, 2025
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Apr 9, 2025
Introduced in Senate
 Plain-English summary Congressional Research Service

TSP Fiduciary Security Act of 2025

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, 2027, fiduciaries may be held personally liable for monetary damages and may be assessed civil penalties for failing to meet these requirements.

The bill also prohibits mutual funds that are accessible through an authorized mutual fund window from investing in any entity that is based in China or any subsidiary of such an entity.

What's happening now April 9, 2025

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 Committees of jurisdiction 1