Legislation proposes new TSP fund

A Virginia congressman has introduces legislation under which the Thrift Savings Plan would establish a Gender Equality-Focused Stock Index fund that invests in companies that have women in leadership positions.

Rep. Don Beyer (D-Va.), sponsor of the Gender Diversity Investment Act, said the bill would give federal employees the chance to invest in companies that demonstrate a strong commitment to women’s economic empowerment.
 
“This legislation would provide federal workers the opportunity to invest their retirement savings in companies that have made a commitment to gender diversity at the highest levels," Beyer said. "It makes good business sense. Studies show companies that have women in leadership outperform companies that do not. Companies that value the talents, ideas, and contributions women bring to corporate leadership end up having better returns on investment than those that ignore half the talent pool."

Beyer cited various research studies that indicate that companies with more women in senior management and leadership roles outperform companies that do not. At the same time, according to research from Catalyst, a nonprofit that works to expand opportunities for women in business, women in 2014 held fewer than 20 percent of the board seats of U.S. companies on the S&P 500 index.

"This legislation does not require anything, nor does it cost anything," Beyer said. "It simply lets workers decide how they want to invest. As a small business owner, I am concerned about the lack of women on leadership teams at American companies despite clear evidence that this leaves us at an economic disadvantage."

 

Reader comments

Fri, May 22, 2015

Are we looking to advance women or to find the best available mix of stocks to help ensure that federal employees have viable investment options offering high yield. Looks like and smells like a gender-based discriminatory TSP fund. The only way to save face is to offer the same for a Male owned TSP fund but Congress is hopeless. Next thing you know the liberals in Congress will make it mandatory to place a portion of our money into something like this so we can all feel good about empowering women. Finally, are women so hopeless that they are incapable of empowering themselves and need "Big Brother to help them? A sad state of affairs...

Thu, May 21, 2015

It doesn't cost anything. Oh if our Congressional representative only knew one thing, it is that the government doesn't develop, plan, implement or manage programs for FREE. This Congressman ought to be voted out of office for such a statement. First it costs significant dollars in labor to develop this program and takes resources from others. There's nothing wrong with investing in businesses with women in leadership positions (AT ALL LEVELS) but to sell something as FREE that is CLEARLY NOT free to the taxpayer or TSP investors. Tell us another one. How about you get busy working on the 106 federal budget so we can pay bills racked up for things that were supposed to be FREE...

Thu, May 21, 2015 TANSTAAFL

Hopefully the House and relevant committee(s) will have the good sense to quash this discriminatory, identity-politics-induced nonsense.

Thu, May 21, 2015

Isn't there more important things congress needs to focus on for our country??

Thu, May 21, 2015 Trevor

This is a waste of time, effort and money, all for political showmanship. There are no practical benefits for the overwhelming majority of TSP participants. Hasn't Congress got anything important to do?

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