TSP Fiduciary Security Act

The TSP Fiduciary Security Act (S. 1993) would require the board members who manage the Thrift Savings Plan (TSP)—the retirement savings program for federal employees and service members—to consider U.S. national security when making investment decisions. Specifically, it would prohibit the fund from investing in foreign companies that the U.S. government has identified as security risks, such as certain Chinese military-linked firms. Under this bill, the officials managing these funds could be held personally liable for financial penalties starting in 2025 if they fail to prevent investments in these restricted entities.