Tag: federal retirement thrift investment board

U.S. Sen. Marco Rubio, R-Fla., weighed in last week after four nominees for the Federal Retirement Thrift Investment Board (FRTIB) confirmed in writing, “it is unfitting for Americans to invest in companies from China...

This week, Florida’s U.S. senators--Republicans Marco Rubio and Rick Scott--signed a letter to Federal Retirement Thrift Investment Board’s (FRTIB) Acting Chairman David Jones regarding its plan to open a new “Mutual Fund Window” beginning...

Earlier this month, Rubio brought back the “Taxpayers and Savers Protection (TSP) Act” with the support of Scott and U.S. Sens. Jeanne Shaheen, D-NH, and Todd Young, R-Ind. The bill will ensure the Federal Retirement Thrift Investment Board (FRTIB) will not send federal retirement savings to China. Rubio first introduced the bill at the end of last year.

Last week, Rubio brought back the “Taxpayers and Savers Protection (TSP) Act” with the support of Scott and U.S. Sens. Jeanne Shaheen, D-NH, and Todd Young, R-Ind. The bill will ensure the Federal Retirement Thrift Investment Board (FRTIB) will not send federal retirement savings to China. Rubio first introduced the bill at the end of last year.

Eight other House Republicans signed Webster’s letter to U.S. Labor Sec. Eugene Scalia including U.S. Reps. Bill Posey and Francis Rooney of Florida. 

Rubio and U.S. Sen. Jeanne Shaheen, D-NH, backed the decision, noting that TSP funds include “retirement assets of federal government employees, including members of the U.S. Armed Forces.”

In February, Scott expressed his concerns to the SEC chairman about how U.S.-listed Chinese companies present regulatory, oversight and enforcement challenges that undermine transparency and confidence in American markets.

Last week, U.S. Sen. Rick Scott, R-Fla., and U.S. Sen. Marco Rubio, R-Fla. sent a letter to President Donald Trump asking him to replace members of the Federal Retirement Thrift Investment Board (FRTIB) after their decision to shift billions of dollars from the Thrift Savings Plan retirement fund to an index fund that includes Chinese companies.

This week, with U.S. Sen. Jeanne Shaheen, D-NH, as the main cosponsor, Rubio brought out the “Taxpayers and Savers Protection (TSP) Act” to ensure the Federal Retirement Thrift Investment Board (FRTIB) will not send federal retirement savings to China.

Both of Florida’s U.S. senators want to ensure the retirement savings of some federal employees aren’t in Chinese hands.

If implemented, a decision by Michael Kennedy, the chairman of the Federal Retirement Thrift Investment Board (FRTIB) will effectively use retirement savings of federal government employees, including members of the U.S. Armed Forces, to fund the Chinese government and Communist Party’s efforts to undermine U.S. economic and national security.