This translation has been automatically generated and has not been verified for accuracy.Sen. Jeanne Shaheen, seen here during a Senate hearing on Sept. 12, 2019, and Sen. Marco Rubio are urging that the Thrift Savings Plan, which serves federal employees, avoid exposure to Chinese companies that are out of line with U.S. interests.
It also bucks months of political pressure from a group of U.S. senators led by Republican Marco Rubio and Jeanne Shaheen, a Democrat, who this month introduced legislation dubbed the TSP Act to block TSP from making the benchmark switch. The House of Representatives has introduced a similar bill.In a statement, Rubio described the decision as “unconscionable” and “foolish,” adding: “The Board’s refusal to act in the best interests of the United States will not go without consequence.
That firm said investing in emerging market stocks, which have outperformed developed markets in recent years, was in line with nearly all other major public and private pension plans. The FRTIB is a fiduciary of the TSP, which is like a 401. As of July, it held $599.5 billion in assets.
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