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Prohibiting External Managers from Voting in TSP Retirement Fund

This bill aims to change the rules for managing the Thrift Savings Plan (TSP) retirement fund, available to federal employees. It prohibits external asset management firms from exercising voting rights associated with securities owned by the fund. This means investment decisions within the TSP fund will be made without the influence of external managers' votes, potentially affecting how the fund invests citizens' retirement money.
Key points
External asset managers will be prohibited from voting on matters related to TSP retirement fund investments.
The change seeks to limit the influence of external firms on investment decisions within the federal employee retirement fund.
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Expired
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No votes cast
Additional Information
Print number: 118_HR_3406
Sponsor: Rep. Buck, Ken [R-CO-4]
Process start date: 2023-05-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop TSP ESG Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3406.

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 2023-05-17.

What are the main provisions?

Key points include:

  • External asset managers will be prohibited from voting on matters related to TSP retirement fund investments.
  • The change seeks to limit the influence of external firms on investment decisions within the federal employee retirement fund.
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. Buck, Ken [R-CO-4].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Benefits Economy