Republican senator Marco Rubio said on Monday he plans to introduce legislation ...
FILE PHOTO: Senator Marco Rubio in Washington, U.S., January 29, 2019. REUTERS/Joshua Roberts
Rubio and a bipartisan group of senators have complained about specific companies included in the MSCI All Country World ex-U.S. Investable Market Index, which gives a 7.5% weighting to Chinese firms. They had called on the Federal Retirement Thrift Investment Board to reverse its decision to begin tracking the index for the Thrift Savings Plan’s International Stock Fund.
“Its clear the Board will not act in the best interests of the United States, reverse this misguided decision and protect our national interest, as well as those who serve it,” Rubio said in the statement. “That’s why I will be introducing bipartisan legislation to ensure that federal retirement savings can never be a source of wealth funding the Chinese Communist Party at the expense of our nation’s future prosperity.
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