Stop TSP ESG Act

The Thrift Savings Plan (TSP) is the retirement savings account for federal employees and military members — similar to a 401(k). When the TSP owns stock in companies, the asset managers who invest the fund's money can vote on corporate issues like board elections and shareholder proposals. This bill would prohibit those outside asset managers from exercising those shareholder voting rights on behalf of the TSP. The concern driving the bill is that asset managers may use TSP holdings to push environmental, social, or governance (ESG) agendas that don't reflect the interests of the federal workers whose retirement savings are at stake.