Marco Rubio and Jeanne Shaheen warn government retiree program against investing in Communist Party of China
by Sean Higgins | September 30, 2019 05:49 PM
Republican Marco Rubio and Democrat Jeanne Shaheen are calling on the entity that manages the retirement funds for most government workers to avoid a specific market index so as not to invest in companies under the control of the People's Republic of China.
The senators, who represent Florida and New Hampshire respectively, made the case in an op-ed Monday that the Federal Retirement Thrift Investment Board's decision to use the MSCI All Country World ex-U.S. Investable Market Index as a benchmark will funnel the government workers' retirement savings to the Chinese Communist Party.
"The Board’s decision to force our nation’s public servants to invest TSP retirement funds in unscrupulous Chinese companies raises serious fiduciary concerns because it ignores a fundamental tenet of our securities laws: investor protection," they said. "It’s our responsibility to ensure that U.S. service members and federal employees do not unwittingly undermine the American interests they work hard everyday to protect."
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READ MORE: https://www.washingtonexaminer.com/policy/economy/rubio-and-shaheen-warn-government-retiree-program-against-investing-in-communist-party-of-china
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Rubio has emerged as one of the most prominent China hawks in the Senate, saying last month that Trump's trade war with China might never end, and has introduced legislation to counter the Made in China 2025 agenda.
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