{"id":1401193,"date":"2022-03-25T20:44:49","date_gmt":"2022-03-26T00:44:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1401193"},"modified":"2022-03-25T20:44:51","modified_gmt":"2022-03-26T00:44:51","slug":"exclusive-trump-endorsed-rep-ted-budd-military-retirement-funds-not-invested-in-putins-russia","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-trump-endorsed-rep-ted-budd-military-retirement-funds-not-invested-in-putins-russia\/","title":{"rendered":"Exclusive \u2014 Trump-Endorsed Rep. Ted Budd: Military Retirement Funds &#039;Not Invested in Putin&#039;s Russia&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-trump-endorsed-rep-ted-budd-military-retirement-funds-not-invested-in-putins-russia%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1401193&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>The Federal Retirement Thrift Investment Board, which manages the retirement funds of six million members of the U.S. military and the federal civilian workforce through a Thrift Savings Plan (TSP), took action to confirm it contained no Russian investments\u00a0in response\u00a0to a bill proposed by Rep. Ted Budd (R-NC) mandating TSP divest from \u201cPutin\u2019s Russia.\u201d<\/p>\n<p>\u201cI\u2019m glad to have secured confirmation that the retirement funds for members of our military and federal workforce are not being invested in Putin\u2019s Russia. Vladimir Putin\u2019s Russia is not a force for good in the world, and we must continue to take action to stop Putin from continuing his barbaric war against Ukraine,\u201d the congressman and Trump-endorsed U.S. Senate candidate told Breitbart News exclusively on Friday following a Federal News Network <a href=\"https:\/\/federalnewsnetwork.com\/federal-newscast\/2022\/03\/federal-employees-can-now-take-paid-leave-to-vote-and-work-at-the-polls\/\">report<\/a>.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Budd first <a href=\"https:\/\/budd.house.gov\/uploadedfiles\/budd_-_tsp_act_of_2022.pdf\">introduced<\/a> the\u00a0 \u2018\u2018Terminating Securities from Putin Act of 2022\u2019\u2019 or the \u2018\u2018TSP Act of 2022\u2019\u2019 to the House on March 17. The bill would order that no fund established or overseen by the Federal Retirement Thrift Investment Board\u00a0(the board in charge of the TSP) \u201cmay include an investment in any security of an entity based in the Russian Federation.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>No later than 30 days after the bill\u2019s passing, the board would be required to review whether any funds in the TSP are invested in Russia, divest those sums, and then reinvest them in a way that does not violate the law, according to the bill\u2019s text. The legislation would also prohibit the investment of TSP funds in entities based in Russia through the TSP mutual fund window.<\/p>\n<p>The TSP is a tax-deferred retirement savings and investment plan which offers federal employees similar savings and tax benefits as many private companies offer employees through 401(k) plans.<\/p>\n<p>The board in 2017 planned to change the\u00a0International Stock Index Investment Fund (I-Fund) to the\u00a0the MSCI ACWI ex USA Investment Market Index, which includes Russian investments, according to Budd\u2019s office. Former President Donald Trump ultimately postponed the change, but there is currently no federal prohibition to ensure TSP stays divested from Russia.\u00a0<b><\/b><b><\/b><\/p>\n<p>Budd\u2019s confirmation comes soon after his establishment-backed U.S. Senate competitor, former North Carolina Gov. Pat McCrory (R),\u00a0<a href=\"https:\/\/www.breitbart.com\/politics\/2022\/03\/09\/ted-budds-campaign-slams-competitor-for-using-empty-soundbites-in-tv-ad-tying-him-to-russia\/\">accused<\/a> him in a political attack advertisement of\u00a0 being \u201cfriendly toward Russia.\u201d At the time, Budd\u2019s office refuted the claim, saying \u201cserious times require strength, not the empty soundbites preferred by career politicians like Biden and McCrory\u2026\u201d<\/p>\n<p>Budd has sponsored multiple pieces of legislation in the last month to get tough on Russia, including the \u201c<a class=\"x5l\" href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/6919\" target=\"_blank\" rel=\"noopener external\">Prohibition on Imports of Russian Oil Act<\/a>,\u201d the \u201c<a class=\"x5l\" href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/6772\/\" target=\"_blank\" rel=\"noopener external\">Expediting Natural Gas Exports to Allies Act<\/a>,\u201d and\u00a0<a class=\"x5l\" href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/6947\" target=\"_blank\" rel=\"noopener\">others<\/a>.<\/p>\n<p><em>Katherine Hamilton is a political reporter for Breitbart News. You can follow her on\u00a0<a class=\"x5l\" title=\"This external link will open in a new window\" href=\"https:\/\/twitter.com\/katherineeeeee2\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Retirement Thrift Investment Board, which manages the retirement funds of six million members of the U.S. military and the federal civilian workforce through a Thrift Savings Plan (TSP),<\/p>\n","protected":false},"author":12,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1401193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1401193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1401193"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1401193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1401193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1401193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1401193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}