Federal Employees News Digest

Bill would establish 'gender diverse' TSP fund

A House lawmaker is sponsoring 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."

See more at: https://beyer.house.gov/news/documentsingle.aspx?DocumentID=100.

2021 Digital Almanac

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