Bill > S3263

This bill, called the Stop TSP ESG Act, amends existing law related to the Thrift Savings Plan (TSP), which is a retirement savings and investment plan for federal employees and members of the uniformed services. The bill specifically prohibits qualified professional asset managers from exercising voting rights associated with securities owned by the Thrift Savings Fund. ESG in the bill's title likely refers to Environmental, Social, and Governance investing, suggesting the bill aims to prevent asset managers from using TSP investments to influence corporate behaviors through shareholder voting on issues related to these factors. By inserting language into section 8438(f) of title 5 of the United States Code, the bill seeks to limit the voting power of professional asset managers who manage investments for the federal employee retirement system, potentially preventing them from making investment or voting decisions based on ESG considerations.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/3263/all-info