May 20, 2021, President Biden issued his Executive Order on Climate-Related Financial Risk, stating that it is the policy of the Administration to: advance consistent, clear, intelligible, comparable, and accurate disclosure of climate-related financial risk.
On May 20, 2021, President Biden issued his Executive Order on Climate-Related Financial Risk, stating that it is the policy of the Administration to “advance consistent, clear,.
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A weekly roundup of pay and benefits news.
Officials at the agency that administers the federal government’s 401(k)-style retirement savings program said Wednesday that they take issue with a number of legislative proposals currently under consideration in Congress in some form.
Last week, Sen. Tommy Tuberville, R-Ala., introduced legislation that would bar the Thrift Savings Plan from allowing participants to invest in any index that includes investment in Chinese corporations.
This week, Tuberville introduced similar language, which would ban the TSP from investing in “entities based in the People’s Republic of China, as an amendment to the Endless Frontier Act, which is currently up for debate on the Senate floor. And Sen. Marco Rubio, R-Fla., has his own amendment, which would bar the TSP from investing in securities that cannot be inspected by the Public Company Accounting Oversight Board. The only region where the PCAOB cannot condu
Bill to prevent TSP investment in Chinese stocks reintroduced
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A bipartisan bill to prevent the Federal Retirement Thrift Investment Board, Washington, from directing retirement savings to Chinese stocks has been reintroduced in the Senate and House.
Rep. Mike Waltz, R. Fla., introduced the Taxpayers and Savers Protection Act on Tuesday, a move preceded by Sens. Marco Rubio, R-Fla., Jeanne Shaheen, D-N.H., Todd Young, R-Ind., Rick Scott, R-Fla., and Joni Ernst, R-Iowa, who did the same on May 20.
The Taxpayers and Savers Protection Act would conditionally ban the investment of Thrift Savings Plan funds in securities listed on Chinese exchanges, according to a news release. Moreover, it would prohibit investment in issuers listed on foreign securities exchanges where the U.S. Public Company Accounting and Oversight Board has not issued an audit inspection and where the PCAOB is prevented from conducting such inspections.