NEW YORK—The U.S. lawmakers behind a bill to stop a large federal retirement pension plan from investing in a fund that includes China-listed shares said the pension plan’s administrators are being misleading about what their bill entails.
The Federal Retirement Thrift Investment Board (FRTIB) said last week the bipartisan legislation would, if passed, deprive participants in the Thrift Savings Plan (TSP) it manages of a significant opportunity for better returns. The plan is similar to a private 401(k) and has around $600 billion in assets.
