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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.
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Status:
Expired
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Additional Information
Print number: 117_HR_3553
Sponsor: Rep. Waltz, Michael [R-FL-6]
Process start date: 2021-05-25
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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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.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

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