WASHINGTON, D.C. – Today, Senator Rick Scott released the following statement after the Federal Retirement Thrift Investment Board (FRTIB) decided to shift billions of dollars from the Thrift Savings Plan (TSP) retirement fund to an index fund that includes Chinese companies. Senator Scott is a co-sponsor of the bipartisan, bicameral Taxpayers and Savers Protection (TSP) Act, which would prevent the FRTIB from steering federal retirement savings to Communist China.
Senator Rick Scott said, “I’m extremely disappointed in the FRTIB for ignoring requests from Congress to reverse this decision. Choosing to invest in Communist China threatens our national security and jeopardizes the retirement savings of hardworking Americans. There is no reason U.S. taxpayer dollars should be used to prop up companies under the control of Communist China, which continues to steal our technology, abuse human rights and build up its military to compete with us. I will continue to work to pass the Taxpayers and Savers Protection (TSP) Act, to protect the American people and prevent the FRTIB from supporting Communist China.”