TSP Act of 2022

Hozzl · 2022-12-29T22:03:50Z

Explore the details of House Bill 7113 TSP Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Government Operations and Politics. Stay informed on legislative developments.

12/29/2022, 10:03 PM

Summary of Bill HR 7113

Bill 117 hr 7113, also known as the Thrift Savings Plan (TSP) Act of 2022, is a piece of legislation currently being considered by the US Congress. The bill aims to make several changes to the Thrift Savings Plan, which is a retirement savings and investment plan for federal employees and members of the uniformed services.

One of the key provisions of the TSP Act of 2022 is the expansion of investment options available to participants in the Thrift Savings Plan. The bill would allow participants to invest in a wider range of funds, including funds that focus on environmental, social, and governance (ESG) criteria. This change is intended to give participants more flexibility in managing their retirement savings and to align the TSP with current trends in socially responsible investing.

Additionally, the TSP Act of 2022 includes provisions aimed at increasing transparency and accountability in the management of the Thrift Savings Plan. The bill would require the Federal Retirement Thrift Investment Board, which oversees the TSP, to provide more detailed and timely information to participants about their investment options and performance. This is intended to ensure that participants have the information they need to make informed decisions about their retirement savings. Overall, the TSP Act of 2022 seeks to modernize and improve the Thrift Savings Plan to better meet the needs of federal employees and members of the uniformed services. The bill is currently being debated in Congress, and its ultimate fate will depend on the outcome of these deliberations.

Congressional Summary of HR 7113

Terminating Securities from Putin Act of 2022 or the TSP Act of 2022

This bill limits the investments of funds under the Thrift Savings Plan (TSP). Specifically, it prohibits TSP funds, including funds that are accessible through the TSP mutual fund window, from investing in any entity that is based in Russia. The bill also prohibits funds that are accessible through the TSP mutual fund window from investing in any subsidiary of such an entity.

Read the Full Bill

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Current Status of Bill HR 7113

Bill HR 7113 is currently in the status of Bill Introduced since March 17, 2022. Bill HR 7113 was introduced during Congress 117 and was introduced to the House on March 17, 2022. Bill HR 7113's most recent activity was Referred to the House Committee on Oversight and Reform. as of March 17, 2022

Bipartisan Support of Bill HR 7113

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7113

Primary Policy Focus

Government Operations and Politics

Potential Impact Areas

- Corporate finance and management

- Employee benefits and pensions

- Europe

- Financial services and investments

- Foreign and international corporations

- Government employee pay, benefits, personnel management

- Russia

- Securities

- U.S. and foreign investments

Alternate Title(s) of Bill HR 7113

TSP Act of 2022

Terminating Securities from Putin Act of 2022

To amend title 5, United States Code, to prohibit sums in the Thrift Savings Fund from being invested in any security of an entity based in the Russian Federation, and for other purposes.