Stop TSP ESG Act

The Stop TSP ESG Act (HR 3406) requires the Thrift Savings Fund (TSP) to delegate voting rights on securities to a qualified professional asset manager instead of its governing board. This amendment to Section 8438(f) of Title 5, U.S. Code, directly affects the TSP, which manages retirement savings for federal employees. The key mechanism mandates that voting on securities must be handled by an external professional manager, removing direct TSP Board control over investment decisions. The bill's title indicates it aims to prevent the TSP from incorporating ESG (Environmental, Social, and Governance) factors into its investment strategy.