TSP Act of 2022

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.