News Release

Statement by Secretary of Labor Eugene Scalia on Federal Retirement Thrift Investment Board Action

WASHINGTON, DC – Secretary of Labor Eugene Scalia issued the following statement regarding the Federal Retirement Thrift Investment Board:

“I am pleased that today the Federal Retirement Thrift Investment Board voted unanimously in accordance with President Trump’s direction to immediately halt all steps associated with investing Thrift Savings Plan assets in problematic Chinese companies. The millions of federal employees, retirees, and service-members participating in the Plan should not be placed in the untenable position of choosing between forgoing any investment in international equities, or placing billions of dollars in retirement savings in risky companies that pose a threat to U.S. national security. The Board’s action was in the best interest of the Plan’s participants and beneficiaries and the national security of the United States.”

Agency
Office of the Secretary
Date
May 13, 2020
Release Number
20-1003-NAT
Contact: Emily Weeks
Phone Number
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