Return to Article: TSP board rejects divestiture proposals
-
58014
I very much would like to see the Roth TSP variant created. I would use it for both a portion of my current federal employment contributions and would certainly like to convert my tax free contributions from a warzone made while on active duty.
I don't need education, I would like more options.
-
26810
Dennis et all,
To my knowledge, no one has proven that any of our funds support any rape, murder, and displacement of anyone, let alone millions of innocent civilians.
To my understanding, the board voted to keep the use of a broad index of companies and limit the governmental interference due to the cause du jour. I know that may sound harsh (and, even now, I grimace at the impression I must be giving) but an index is a broad swath of companies. To pick and choose which specific companies we did or did not invest in would be a huge change from the way we are doing business now. It would most likely:
1. Void our contract with the managers of our funds.
2. Take us from an index type investment strategy to a pick-and-choose company by company.
3. Increase our costs by a factor of (quite possibly) 20 times it's current.
The reason for this is that such social commitment comes with a large and tangible cost. It would entail researching each company's business contracts and, quite possibly, their subcontractors.
If I may suppose... Suppose you didn't like the subcontractor of Wal-Mart that runs a sweat shop for DooBop sneakers in the Philippines. Should we not invest there with them? Each investor must make that decision. But if you are dealing with indexed funds, you can't pick and choose.
If a government employee does not like the vagaries of index investment and wishes to put their money where their mouth is on the vague possibility that our future is condemning someone's present, I applaud you. I also recommend you search for such a private fund and get your 401(k) tax advantage by filing.
Your call.
-
26676
That the Board is taking an active role in defeating this legislation is disturbing. Why should we let companies profit from the rape, murder and displacement of millions of innocent civilians? This is not "political correctness". This is a moral imperative. After all, didn't such divestiture contribute to the elimination of apartheid in South Africa?
Six states have already successfully divested their state pension funds, over a dozen other states have filed legislation to do the same, and universities across the nation have responded with divestment plans. The Board can invest our funds elsewhere, profitably and with a conscience.
-
26639
We all have options in life. Therefore if you don't like how TSP, Schaub, or Fidelity invests then change your strategy or provider. Don't force you political or religious beliefs or perspectives on others.
-
26568
Investing in such companies is like bank rolling Nazi Germany in the 30's and 40's. Any HUMAN being with a conscience should pull their money and put it elsewhere or at the very least switch to the G fund.
-
26467
I support the divestiture proposal. I don't want any of my money going to those terrorists in Iran. I remember the hostage crisis and the president of Iran was one of the leaders. Why are we doing business with them now, nothing has changed in my mind. Based on principal I would rather invest my money with someone I trust, not someone that kidnapped some of my fellow citizens. I am a Veteran and a government employee too.
-
26164
The Board's position leaves people who would support divestiture with only a "take it or leave it" option. Not very practical or fair in my opinion, given the nature of the TSP. This issue is also very revealing about where we are today as a people. We are all solidly against terror and genocide in principle, but we are unwilling to consider even the smallest personal sacrifice, in this case financial, to do anything about it.
-
26157
If we are to divest in all companies that are associated with human rights violations and terrorism, we wouldn't have a TSP.
-
26156
I am so happy to find out that I am one of the "select few" that would benefit from a Roth option and is smart enough to know it! Please, give us poor working stiffs credit for being able to make the decision for ourselves and give us option.
-
26147
Good for the board. If you are for divisting would you not then support a law forcing all U.S. citizens and companies to divest? If not, why focus on just government employees?
-
26146
As for the divestiture, Nullrout and Cote said it and I second those emotions. Politicians have so many different causes and scandals, I really don't want someone who can't balance their office accounts to be picking and choosing my retirement funds.
Still, I have to consider ... Supposing, just supposing that Congress voted for the TSP's divestiture of businesses dealing with Darfur, would they also revoke China's Favored Nation trade status? China is the biggest developer in Darfur, weaseling their way in for the oil.
As for the Roth, well "Thanks, Dad (Gregory Long)." I feel so much better that you're are looking out for me. NOT!
I have only a couple of small questions, "How would you know who a Roth would benefit?", "Did you ask someone who is a participant?"
-
26129
No, this isn't about the value we put on human life when it comes to whether we are willing to sacrifice some of the wealth in our portfolios. No, it's not about race. No, it's not about superiority, status or privilege. It's about what's in OUR best interest. If I keep repeating this long enough, maybe my stomach will stop turning.
-
26116
As a TSP participant I am disappointed with the position of the TSP board that acting solely on a dollar return is in the best intrest of TSP participants. Dealing with genocide in the Darfur region of Sudan or Iranian state supported terrorism will never have my support to earn a few extra cents. If we have no financial morals we will soon cease to exist as a society; and that is the real negative return on our investments.
-
26107
When the US Congress and Senate have shown that they can spend our tax money responsibly (and stop using trust funds for their own political purposes), then I will agree that they might (just MIGHT) have some kind of right to mess around with what is supposed to be a savings plan for my (and your) retirement. Since they haven't shown that kind of responsible actions for at least a hundred years, I would prefer that they keep their money-spending paws off MY retirement account. I suspect that this would be only the first step in converting the TSP into the same kind of money source that the Social Security Trust Fund (remember that? If you remember, then you're older than the hills) became as soon as there was enough money in it to make a significant dent in the Governmental spending. It was decades before they owned up to that, also.
-
26105
I stand in agreement with the legislative proposals that would require divestiture of companies that do business in countries supporting genocide and terror. How can we sleep at night in bed with the devil? The concern is the financial impact of implementing the divestment proposals - we cannot have it both ways - making money while supporting terrorism and genocide. It cost us now or it cost us later but we will pay. Playing on both sides; we lose in the end.
-
26104
Good for the TSP Board. Keep politics out of people's money. I don't support any genocide or terror activities of any kind. But if start making restrictions on how and who their money is invested with, then we lose our freedoms, which is what the USA stands for. Keep politics out.
-
26101
Everyone should read and listen to the chairman of the board for the TSP as listed below.
"As the board members, we are responsible only for the participants' best interest, not for the best interest of the United States," said Andrew Saul, chairman of the board. "You're not wearing the hat of a United States citizen; you're wearing the hat of a fiduciary for the plan."
Responsiblity lies with TSP members , what other investments could be affected in the future?; investments in Britain, Canada, Mexico, Germany?
-
26099
Until legislators have a vested interest by paying into FERS and TSP to depend upon their own retirement, they should concentrate on more basic issues when representing the taxpayers and spending their dollars, like ensuring the (basic) needs of food, shelter, medical, education, police, fire, and power sources are met for citizens of this country. It's not their place to jeopardize the TSP earning power for employees by throwing politics into play!
-
26087
I would like to see how many companies by name would be excluded...I bet you'd really be surprised. Business is about making money plain and simple. Investing is about making money...if you want to invest based on your moral beliefs that is fine, just don't force me into it.
Do not mistake what I am saying. I would not invest in a company that sold guns to rebels...oh wait the G fund invests in the government right? Hasn't our government sold arms to rebels before to topple other regimes?--I digress, I wouldn't want to directly support terror or genocide but I also wouldn't sell all my Samsung stock because they sell TV to a "terrorist" country!
-
26086
Business as usual. Profit before anything.
PROMO RIGHT: EVENTS
UPCOMING WEBINARS
NOVEMBER 18
Speed bumps for Teleworking: What are they and how to avoid them?
DECEMBER 3
Achieve Program Success: Unlock the Management Information in Your Data
DECEMBER 10
Practical Transparency: Applying Exchange Networks for Mission Results
PROMO RIGHT: DIRECTORIES
Post a Comment
To post a comment, you must provide a name and a valid e-mail address. Messages must be limited to 400 words. By using this Service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although Government Executive does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.