Bar ESG factors in ERISA; depoliticize TSP; remove BlackRock/State Street; ban China
Mandate would prohibit non-pecuniary ESG investing in ERISA, reverse TSP mutual-fund ESG windows, fire BlackRock/State Street as TSP managers, authorize independent proxy voting, and prohibit TSP China investments.
Mandate
Mandate Ch. 18 (Labor) — ESG and Thrift Savings Plan: DOL should prohibit ERISA investing on factors unrelated to risk/return and return to pecuniary-only Trump approach; reverse TSP ESG mutual fund windows; remove BlackRock/State Street; consider fiduciary enforcement; Congress authorize FRTIB proxy voting guidelines; DOL/Congress prohibit TSP investment in China.
Undo plan
1) Allow ERISA fiduciaries to consider material climate/governance risks as pecuniary factors.
2) Preserve participant-choice ESG options in TSP with clear disclosures.
3) Compete TSP management on performance/fees—not political blacklists.
4) Use targeted sanctions/CFIUS tools for China risk rather than blanket politicization of pensions.
5) Verify: TSP net returns/fees; ERISA fiduciary enforcement consistency.