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Restricting Asset Managers' Voting Rights in Federal Retirement Fund (TSP)

This bill aims to prohibit professional asset managers from exercising voting rights associated with securities held by the Thrift Savings Fund (TSP), the retirement plan for federal employees. This means managers handling your retirement savings will be restricted from using proxy votes to influence corporate decisions, often related to environmental, social, or governance (ESG) issues. The goal is to ensure investment decisions focus purely on financial returns rather than broader social objectives.
Key points
Prohibits TSP asset managers from using voting rights associated with fund-owned securities.
Changes the governance philosophy for federal employees' retirement savings, limiting influence on corporate ESG policies.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 118_S_1891
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-06-08
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Summarized by: gemini-2.5-flash-preview-09-2025
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_S_1891.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-08.

What are the main provisions?

Key points include:

  • Prohibits TSP asset managers from using voting rights associated with fund-owned securities.
  • Changes the governance philosophy for federal employees' retirement savings, limiting influence on corporate ESG policies.
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 Sen. Cruz, Ted [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Benefits Economy