Stop TSP ESG Act

The Stop TSP ESG Act (S 1891) requires the Thrift Savings Fund (TSP), which manages retirement accounts for federal employees, to delegate voting rights on securities to a qualified professional asset manager instead of exercising them directly. This change would directly affect how the TSP manages its investment portfolio and votes on corporate matters, shifting decision-making to an external manager. The bill's title indicates it aims to address concerns about the TSP's use of Environmental, Social, and Governance (ESG) factors in investment decisions, though the bill text does not explicitly mention ESG. The amendment targets Section 8438(f) of title 5, U.S. Code, which governs TSP operations.