arrow_back Back to App

Protecting Retirement Savings: Banning Investments in Risky Foreign Companies.

This act aims to protect your retirement savings held in the Thrift Savings Fund. It prevents these funds from being invested in stocks of companies from countries where U.S. oversight bodies cannot fully audit their financial records. This makes your money safer from fraud and uncertain foreign investments.
Key points
Investment restriction: The retirement fund will not be able to invest in companies from countries that block U.S. financial audits.
Increased security: Your retirement savings will be protected from risks associated with a lack of financial transparency in foreign companies.
Regular checks: The U.S. Securities and Exchange Commission will regularly verify compliance with these rules.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_3553
Sponsor: Rep. Waltz, Michael [R-FL-6]
Process start date: 2021-05-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

TSP Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3553.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-25.

What are the main provisions?

Key points include:

  • Investment restriction: The retirement fund will not be able to invest in companies from countries that block U.S. financial audits.
  • Increased security: Your retirement savings will be protected from risks associated with a lack of financial transparency in foreign companies.
  • Regular checks: The U.S. Securities and Exchange Commission will regularly verify compliance with these rules.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waltz, Michael [R-FL-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Reform.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Benefits