Stop TSP ESG Act
Sponsored By: Senator Cruz, Ted [R-TX]
Introduced
Summary
Bars qualified professional asset managers from voting securities owned by the Thrift Savings Fund. This bill would amend 5 U.S.C. 8438(f) to specify that the TSP Board, not a qualified professional asset manager, may exercise voting rights tied to securities held by the Thrift Savings Fund. The change would remove proxy-vote authority from those hired managers and place voting control with the Board.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Limits proxy voting for TSP accounts
If enacted, this bill would stop outside asset managers from voting shares owned by the Thrift Savings Fund. It would change 5 U.S.C. 8438(f) so the TSP Board, not a qualified professional asset manager, is the authorized voter. This is a governance rule about who casts proxy votes and would not change payments, funding, or create new programs.
Sponsors & CoSponsors
Sponsor
Cruz, Ted [R-TX]
TX • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov