WASHINGTON – The Trump administration has directed the U.S. federal employee retirement fund to scrap its plan to place more than $4 billion into Chinese investments, a move that comes as the president blames Beijing almost daily for not doing more to stop COVID-19 from spreading around the world.
The administration has given the board overseeing the Thrift Savings Plan until Wednesday to comply with the president's directive.
TSP is a tax-deferred retirement savings and investment plan that works like a 401(k) plan offered by private corporations. National Economic Council Chairman Larry Kudlow and the president's national security adviser Robert O'Brien wrote a letter Monday to Labor Secretary Eugene Scalia calling on the retirement