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Prohibiting ESG Investments in Federal Employee Retirement Fund

This bill aims to prohibit the federal employee retirement fund (Thrift Savings Plan) from investing in funds that make investment decisions primarily based on environmental, social, or governance (ESG) criteria, if these criteria do not maximize monetary returns. This means your retirement savings will be managed solely with the goal of maximizing financial gain, without considering other factors. If you currently hold such investments, you will have the option to change them, otherwise they will be automatically moved to a government securities fund.
Key points
The Thrift Savings Plan (TSP) will be prohibited from offering mutual funds that make investment decisions based on ESG criteria unrelated to maximizing monetary returns.
Existing investments in impermissible ESG funds will be identified and removed; participants will have 90 days to re-elect their investments, or they will be automatically moved to the Government Securities Investment Fund.
The bill defines ESG criteria, including environmental (e.g., emissions, climate change), social (e.g., diversity, labor organizations, firearms), and political affiliations.
TSP participants will gain the right to sue the Board for violations of these new investment rules.
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Expired
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Additional Information
Print number: 118_HR_3612
Sponsor: Rep. Roy, Chip [R-TX-21]
Process start date: 2023-05-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No ESG at TSP Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3612.

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 2023-05-23.

What are the main provisions?

Key points include:

  • The Thrift Savings Plan (TSP) will be prohibited from offering mutual funds that make investment decisions based on ESG criteria unrelated to maximizing monetary returns.
  • Existing investments in impermissible ESG funds will be identified and removed; participants will have 90 days to re-elect their investments, or they will be automatically moved to the Government Securities Investment Fund.
  • The bill defines ESG criteria, including environmental (e.g., emissions, climate change), social (e.g., diversity, labor organizations, firearms), and political affiliations.
  • TSP participants will gain the right to sue the Board for violations of these new investment 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. Roy, Chip [R-TX-21].

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

Economy Public Investments