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WASHINGTON, D.C. – The American Securities Association (ASA) today issued the following statement from President and CEO Chris Iacovella on the Federal Retirement Thrift Investment Board (FRTIB) actions changing the benchmark used for the International Stock Index Investment Fund (I Fund) for Thrift Savings Plan (TSP) investors:
“The Chinese Communist Party should not fund its military and economic rise off of the retirement accounts of U.S. government employees and service members. While we welcome the FRTIB’s decision to offer an international index that excludes Chinese companies, it should go further and make certain that no Thrift Savings Plan fund includes Chinese companies,” said ASA President & CEO Chris Iacovella.
The Thrift Savings Plan (TSP) is a retirement and investment plan for American federal employees and military members. On Tuesday, November 14th, the FRTIB approved a new benchmark index for I Fund, which excludes investments from China and Hong Kong.
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About the American Securities Association
American Securities Association, based in Washington, DC, represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.